FREMONT, Calif., Dec. 27, 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 it added the use of co-locations to its deployment strategy as it moves forward to attain its goal of achieving 10,000 digital miners of cryptocurrencies deployed worldwide. Last week, the Company entered its first co-location agreement that will ultimately provide for the installation of 1,000 units digitally mining a mix of the top ten cryptocurrencies, in addition to the units already operating, as previously announced.
The Company’s cryptocurrency mining division decided over the past two weeks that to best attain its goal of 10,000 machines on a timely basis that an additional approach to digital mining would be effective. In addition to the use of the Company’s current manufacturing and office facilities and the purchase or leasing of new operational locations, the Company believes that co-locations hosting servers and networked devices can be readily leveraged. Co-locations can provide key elements including privacy, security, operational access/control, power capacity /redundancy and operational expertise. Co-locations also have the versatility of entering agreements spanning a short or long-term period thus providing the ability to grow from long-term planning or necessitated to resolve through pivoting to fulfill short-term requirements. The Company will continue to research other co-location opportunities to deploy its network of digital miners nationally and internationally.
In a related matter, the Company filed an 8-K report with the SEC, after the close of market on December 26, declaring its intent to use its social media page on Facebook, https://www.facebook.com/DigitalPowerCorp, as a focal point to disseminate information about the Company including that which may be deemed “material.” Use of social media is compliant with the SEC guidance issued on April 2, 2013 in a report regarding the use of social media to disclose material non-public information. Digital Power encourages investors, its shareholders, the media, and others interested in the Company to review the information that it posts on Facebook in addition to the information that it discloses on its investor relations tab on its homepage, http://www.digipwr.com/index.html, SEC filings, press releases, public conference calls and webcasts.
The Company this past week posted on its Facebook page various photos and videos showing the testing and deployment of its digital mining units at its current locations and will continue to post information, photos and videos of additional deployment of digital mining units or the launching of new locations as it develops its proprietary network worldwide.
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.
For Investor inquiries: IR@digipwr.com, www.DigitalPowerCorp.com or 1-888-753-2235.
Forward-Looking Statements
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 Company’s ability to continue to finance its current operations, the ability of the Company to finance or complete the manufacturing of its new product line for the digital mining community, the ability of the Company to sell digital mining power systems or the ability to raise sufficient capital to establish digital mining farms or its ability to operate successfully those farms and be profitable. 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.