FREMONT, Calif., Dec. 04, 2017 (GLOBE NEWSWIRE) -- Digital Power Corporation (NYSE.American:DPW) ("Digital Power" or the "Company"), a company seeking to increase revenues through acquisitions and organic growth, announced today that its wholly owned subsidiary, Coolisys Technologies, Inc. (”Coolisys”), anticipates launching a line of advanced technology power systems for digital mining of cryptocurrencies, including Bitcoin and the other top digital currencies worldwide. Both digital mining as an industry and cryptocurrency as an asset class have experienced exponential growth for the past 5 years. Leveraging the Company’s 48 years of designing, manufacturing and receiving worldwide adoption of its highly efficient and durable power solutions and systems, Coolisys believes it is well positioned to resolve challenges with the cost and use of power for today’s burgeoning digital mining community and adopt and implement other technological improvements.
Coolisys stated that the first miner AC-DC switching power supply being produced will be for use by the Antminer S9 model by Bitmain Masters and can now be pre-ordered. The very popular and highly regarded Antminer S9 was the world’s first dedicated bitcoin miner using an application-specific integrated circuit, (commonly known as an ’ASIC’), based on the sixteen nanometer (“16nm”) process on its system. Coolisys noted the new product line was a result of the agreement with PoW Digital Mining previously announced on August 10, 2017, which said ‘PoW Digital Mining is to lead its development of an equipment and services portfolio targeting Digital Mining and related research and development of cryptocurrency. The active digital mining markets led by Bitcoin, Ethereum and the other 900+ digital currencies have created a budding hardware demand driving the need for efficient low-cost power solutions.’ PoW Digital Mining affirmed that the top issue for most professionals and amateurs who actively mine Bitcoin, Litecoin and other cryptocurrencies is energy costs. Cryptocurrency mining of block-chain transactions is power-hungry. The most successful miners are those that get the highest hash rates out of their systems, at the lowest total cost. Since electricity is the biggest on-going cost of mining, it follows that maximizing the efficiency of the power supply is critical. Even with the smallest of efficiencies delivering notable savings, PoW Digital Mining reported that a new line of crypto-mining power solutions within a suite of products could be readily commercialized.
Amos Kohn, President and CEO of Coolisys Technologies and Digital Power Corporation stated, “We have a competitive advantage given our expertise in developing and providing advance power solutions for the tech, military, industrial and healthcare sectors. To power the AntMiner S9, we will utilize our field-proven platform, previously implemented to power cloud-based computing networks and servers, that employ highly-efficient power switching with fully synchronous rectification and advanced digital signal processing (DSP). Our power solutions are based on next-generation design and we believe are among the most technologically advanced power processing solutions available. We project our cryptocurrency initiatives and products could have a material effect on the Company’s revenues and net income for this component of its operations during 2018. We look forward to presenting what we are developing.”
“When we first met with the Digital Power in 2016 and were becoming familiar with its long history of manufacturing advanced power solutions, we recognized that the Company was underutilizing its technical knowledge base and product development capabilities. Our investment strategy included our looking forward to harnessing and leveraging these assets to provide a range of new product portfolios and expanding the Company’s revenue streams. We look forward over the coming months that the marketplace will continue to appreciate the abilities and potential of DPW, its management and staff and its strategies to bring added-value to our shareholders,” commented Milton “Todd” Ault, III, the Company’s Executive Chairman.
Units may be pre-ordered at www.SuperCryptoPower.com with units shipping some time during the first quarter of 2018.
The Company reminds its shareholders, investors and the public it will issue an investor update before the opening of the market on the morning of December 7, 2017. Topics will include an update on revenue guidance for the quarter and 2018, a progress report on the cryptocurrency initiatives by Coolisys Technologies, advances made on the MTIX $50M purchase order and the advanced technology platform and an update on Digital Power Lending.
ABOUT DIGITAL POWER
Headquartered in Fremont, CA, Digital Power Corporation, through its subsidiaries, designs, manufactures and sells high-grade customized and off-the-shelf power system solutions. Our products are used in the most demanding communications, industrial, medical and military applications where customers demand high density, high efficiency and rugged power solutions. The Company’s 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 Technologies, Inc., a developer and manufacturer that services the defense, aerospace, medical and industrial sectors, has three subsidiaries including 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.
Digital Power Lending, LLC, is 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. Digital Power Corporation's headquarters is located at 48430 Lakeview Blvd., Fremont, California, 94538; 1-877-634-0982; www.DigiPwr.com.
The foregoing release contains “forward looking statements” regarding future events or results 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 concerning the Company’s current expectations regarding revenues for the remaining 2017 and thereafter from contracts and operations on a consolidated basis, the ability of the Company to complete the manufacturing of its new product line for the digital mining community or the ability of the Company to sell digital mining power systems. The Company cautions readers that such “forward looking statements” are, in fact, predictions that are subject to risks and uncertainties and that actual events or results may differ materially from those anticipated events or results expressed or implied by such forward- looking statements. The Company disclaims any current intention to update its “forward looking statements,” and the estimates and assumptions within them, at any time or for any reason, unless required by applicable law. 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.DigitalPowerCorp.com.
Source:Digital Power Corporation