DPW Holdings’ Subsidiary, Super Crypto Mining, Enters an Agreement Securing 25 Megawatts of Power to Support 20,000 Mining ...
March 23 2018 - 6:30AM
DPW Holdings, Inc. (NYSE American: DPW) ("
DPW" or
the "
Company"), a diversified holding company,
announced that its subsidiary, Super Crypto Mining, Inc.
(“
SCM”) has entered into an agreement with a U.S.
based entity securing the right to 25 megawatts of power in support
of SCM’s operations of approximately 20,000 mining rigs at the
location.
“We are excited about this new arrangement for many reasons.
This not only helps SCM reach our 2018 goals but also provides
capacity for future growth. We are proud to be working with a
well-respected data facility leveraging efficiencies that result in
a symbiotic cost-effective relationship. This is a unique
relationship whereby SCM has obtained access to electricity for the
miners at costs competitive with global locations, meaning that we
can maintain our operations within the U.S. We will have more to
share in the coming months specific to the operation as well as
“Green Energy” practices that we are employing at the location,”
commented Darren Magot, the CEO of SCM.
SCM will be placing at least 2,000 mining rigs at the new
location practically immediately. Some of these machines will be
supporting our Cloud Mining offering, which we expect will commence
on May 1, 2018.
“This is just another example of how Super Crypto Mining is
executing on its plans and adding value to the parent company, DPW
Holdings,” commented Milton “Todd” Ault III, the Company’s CEO and
Chairman. “This new arrangement will allow SCM to build out as it
ramps up its operations, dependent on the timing of financing and
product availability.”
ABOUT DPW HOLDINGS, INC.Headquartered in
Fremont, CA, DPW Holdings, Inc. is a diversified holding company
that, through its wholly owned subsidiary, Coolisys Technologies,
Inc., is dedicated to providing world-class technology-based
solutions where innovation is the main driver for mission-critical
applications and lifesaving services. Coolisys’ growth strategy
targets core markets that are characterized by “high barriers to
entry” and include specialized products and services not likely to
be commoditized. Coolisys through its portfolio companies develops
and manufactures cutting-edge resonant switching power topologies,
specialized complex high-frequency radio frequency (RF) and
microwave detector-log video amplifiers, very high-frequency
filters and naval power conversion and distribution equipment.
Coolisys services the defense, aerospace, medical and industrial
sectors and manages four entities including Digital Power
Corporation, www.DigiPwr.com, a leading manufacturer based in
Northern California, 1-877-634-0982; Digital Power Limited dba
Gresham Power Ltd., www.GreshamPower.com, a manufacturer based in
Salisbury, UK.; Microphase Corporation, www.MicroPhase.com with its
headquarters in Shelton, CT 1- 203-866-8000; and Power-Plus
Technical Distributors, www.Power-Plus.com, a wholesale distributor
based in Sonora, CA 1-800-963-0066. Coolisys operates the branded
division, Super Crypto Power, www.SuperCryptoPower.com.
Digital Power Lending, LLC, a wholly owned subsidiary of the
Company, is based in Fremont, CA, and is a California private
lending company dedicated to strategically providing capital to
small and middle size businesses for an equity interest in addition
to loan fees and interest, www.DigitalPowerLending.com. Excelo,
LLC, a wholly-owned subsidiary of the Company, is a national search
firm specializing in fulfilling strategic executive, professional
and hi-tech placements for businesses delivering world-class
services, www.Excelo.com. DPW Holdings, Inc.’s headquarters is
located at 48430 Lakeview Blvd., Fremont, California, 94538;
1-877-634-0982; www.DPWHoldings.com. For Investor inquiries:
IR@DPWHoldings.com or 1-888-753-2235.
Forward-Looking Statements
The foregoing release contains “forward looking statements”
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, including statements regarding the
acquisition and the ability to consummate the
acquisition. These forward-looking statements generally
include statements that are predictive in nature and depend upon or
refer to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.DPWHoldings.com.
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