DPW Holdings (DPW) Stock Is Rocketing!

DPW Holdings DPW Stock News

DPW Holdings Inc (NYSEAMERICAN: DPW) has seen a dramatic rise in value as of late. However, with little news flow, many are wondering just what’s happening. Truth be told, there’s a good reason for the gains. As Bitcoin continues to rise, investors are becoming more and more excited about the future, driving gains of more than 20% early in Friday’s trading session.

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DPW Stock Is Following Bitcoin To The Top

While there hasn’t been much news flow out of DPW as of late, the stock is seeing tremendous gains. Ultimately, the gains have to do with the pick up in Bitcoin demand, leading to strong price growth in the cryptocurrency.

The truth is that DPW isn’t just a technology company that’s focused on creating power sources for commercial and military customers. In fact, the company owns a subsidiary that is focused on the mining of Bitcoin and other cryptocurrencies.

As such, with the price growth in Bitcoin, DPW stands to earn more revenue through the sale of the Bitcoin that the company mines, and that bitcoin revenue growth is happening quickly. In fact, on a year to date basis, Bitcoin has climbed by around 200% and doesn’t seem to be slowing.

Back To The “Old Days” Of Cryptocurrency

Cryptocurrency is still a relatively young technology. However, I was talking to a friend this morning and he mentioned that we’re getting “back to the old days of Bitcoin.” The truth of the matter is that about a year ago, Bitcoin was the hottest topic on the street, and as my friend pointed out, it is becoming a hot topic again.

In fact, demand for Bitcoin and cryptocurrency is climbing so high that Iran recently seized several cryptocurrency mining machines. The country did so as power consumption rose by 7% in the country in the month of June and Iran believes that cryptocurrency mining is the reason for the jump. In fact, Arash Navab, an electricity official said that “two of these bitcoin farms have been identified, with a consumption of one megawatt.”

While the news may be bad for cryptocurrency miners in Iran, it’s great news for DPW and its shareholders. After all, as Bitcoin and other cryptocurrencies in the space see growth, DPW and its investors see opportunity!

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The Bottom Line

The bottom line here is that while Bitcoin and other cryptocurrency mining isn’t the only thing that DPW does, the company is gaining traction as many see Bitcoin as an opportunity, but don’t want complete exposure. As such, DPW offers access to take part in the growth while hedging the bet through other ventures that the company is taking part in. In my view, that’s exactly why the stock has seen recent growth and could see further growth ahead.

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