DPW Holdings, Inc. (NYSEAMERICAN: DPW) is having an overwhelmingly strong day in the market today, and for good reason. The company announced that it has increased the installation rate of a key piece of technology. Today, we’ll talk about the news, what we’re seeing from DPW, and what we’ll be watching for ahead.
DPW Increases Antminer S9 Installation Rate
As mentioned above, DPW Holdings is having an overwhelmingly strong start to the trading session this morning, after announcing an increased installation rate of a key technology. In a press release issued early this morning, the company reported an increase in its installation rate, or number, of Bitmain Antminer S9’s per week.
In the press release, DPW said that its subsidiary, Super Crypto Mining, has increased the current deployment of this technology in the first quarter of 2018. This figure increased to 100 units per week from 40 units per week with a goal of expediting achievement of its mining goals. In a statement, Milton “Todd” Ault III, Chairman and CEO at DPW, had the following to offer:
“We believe the recent pullback of cryptocurrency prices does not reflect the longer term trend, but instead offers opportunities… We are more dedicated than ever to mining the top ten cryptocurrencies. I’m very pleased with our path as we continue to march towards our goal of 10,000 miners in 2018.”
What We’re Seeing From The Stock
As investors, one of the first things that we learn is that the news moves the market. In this particular case, news surrounding DPW Holdings proved to be overwhelmingly positive. So, it only makes sense that we’re seeing strong gains in the value of the stock. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:30), DPW is trading at $2.50 per share after a gain of $0.23 per share (10.13%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DPW. In particular, we’re interested in following the story surrounding the company’s push to 10,000 miners. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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