Digital Power Corporation (NYSEAMERICAN:DPW) reported that its subsidiary unit, Coolisys Technologies, Inc., expects introduce a range of advanced technology power mechanisms for digital mining of cryptocurrencies.
Cryptocurrency as an asset class and digital mining as a growing industry have witnessed remarkable growth for the past five years. Using the firm’s 48 years of manufacturing, designing and receiving global adoption of its durable and highly efficient power systems and solutions, Coolisys considers it is well positioned to face challenges with the cost and application of power for today’s growing digital mining community and implement and adopt other technological improvements.
Coolisys mentioned that the initial miner AC-DC swapping power supply being made will be for application by the Antminer ‘S9’ model by Bitmain Masters. Now it is available for pre-orders. The highly regarded and extremely popular Antminer ‘S9’ marks as the world’s preliminary dedicated bitcoin miner utilizing an application-specific integrated circuit, commonly termed as an ’ASIC’, grounded on the sixteen nanometer process on its system.
Digital Power subsidiary mentioned the new product line was an outcome of the deal with PoW Digital Mining previously reported in August 2017, which stated PoW Digital Mining is to direct its advancement of an equipment and services portfolio intending Digital Mining and related R&D of cryptocurrency.
The functioning digital mining markets directed by Ethereum, Bitcoin and the other more than 900 digital currencies have established a growing hardware demand leading the requirement for efficient low-cost power offerings. PoW Digital Mining stated that the top concern for most amateurs and professionals who actively mine Litecoin, Bitcoin and other cryptocurrencies remains to be energy costs.
The most popular miners are the ones that record the best hash rates out of their arrangements, at the lowest aggregate cost. Since electricity is the main on-going mining cost, it follows that increasing the efficiency of the power supply is important.
In the last trading session, the stock price of Digital Power jumped more than 90% to close the day at $3.49.