DPW Holdings (DPW) Stock Follows Bitcoin North

DPW Holdings DPW Stock News

DPW Holdings Inc (NYSEAMERICAN: DPW) is having a strong day in the market today, trading on gains of more than 15% at mid-day. While the company hasn’t issued any news of filed anything with the SEC, there’s a good reason for the gains.

DPW invested quite a bit of money into cryptocurrency mining early on. Well, these investments might just pay off as Bitcoin rockets. In fact, Bitcoin recently broke the $10,000 mark. Moreover, an article by Forbes suggests that the cryptocurrency could climb to more than $100,000.

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DPW Stock Climbs On Cryptocurrency Market Growth

Cryptocurrency has been making one heck of a rebound from lows experienced in late 2018. As concerns surrounding the idea of crypto currency continue to fade, investors seem to be piling in, and that’s a great thing for DPW Holdings.

After all, as the cryptocurrency industry started to heat up, DPW investing millions of dollars in the creation of crypto mining farms under its subsidiary, Super Crypto Mining, also known as Digital Farms. Of course, should gains continue in cryptocurrencies, DPW and its Super Crypto Mining subsidiary have quite a bit to look forward to.

More To Consider

About a month ago, DPW issued a press release that led to some concerns. The company said that excluding revenue from recent acquisitions, it generated $3,267,324 in revenue in the most recent quarter. Unfortunately, that figure represented a decrease of $1,925,523 quarter over quarter, leading to some concerns.

In the release, the company pointed to several causes for the reduction in revenue. One of the big factors had to do with the company’s decision to slow operations at Digital Farms due to weakness in the cryptocurrency market.

As the cryptocurrency market continues to see strength, it’s likely that DPW and its subsidiary, Digital Farms will reverse this decision, becoming more active in the cryptocurrency space.

Should the value of Bitcoin and other cryptocurrencies continue to fly, revenue could see a substantial increase as DPW jumps back into the crypto craze.

What To Watch For Ahead

Moving forward, DPW could see a strong increase in value. However, this will depend on a few key factors. First and foremost, cryptocurrencies will need to continue to see strength. If strength in the market continues, cryptocurrency operations at the company will likely yield significant revenue growth.

It’s also important to keep in mind that DPW Holdings isn’t just a cryptocurrency company. In fact, it provides power sources and other technologies to government and commercial clients. So, keep an eye on revenue growth, or lack there of, on this side of the coin as well for clues as to where the stock is headed.

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What Do You Think?

Where do you think DPW is headed moving forward? Join the discussion in the comments below!

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