Ault Global Holdings Inc. (NYSEAMERICAN:DPW) Stock Gains Momentum: Soars 18% On High Volume
Ault Global Holdings Inc. (NYSEAMERICAN:DPW) up 19% after the diversified holding company announced the signing of agreements with Bitman Technologies Limited through its subsidiary, BitNile Inc., to purchase an extra 16,000 BTC miners.
Market Stats
On Friday, DPW stock soared 18.64% at $2.10 with more than 17.93 million shares, compared to its average volume of 4.44 million shares. The stock has moved within a range of $1.9500 – 2.1500 after opening trading at $2.07.
Ault Global Holdings’ Subsidiary BitNile Purchases 16,000 Bitcoin Miners From BITMAIN, Including S19 XP and S19j Pro Antminers
These purchase contracts represent the subsidiary’s stated target of achieving close to 20,000 BTC miners. Interestingly the purchase includes environmentally conscious S19 XP Antminers featuring processing power of 140 TH/s with energy consumption of 3.01kWh and S19J Pro Antminers featuring processing power of 100 TH/swith energy consumption of around 2.95 kWh.
As per the current schedule, BitNile anticipates BITMAIN to ship the 16,000 newly acquired miners by march 2022 through September 2022. Following the shipment, BitNile expects to have 30,000 BTC miners for its mining operations.The company expects annual revenues from BTC mining ranging from $290 million to $320 million with around 90% margins and net costs of power, which will be around $60,000 to $65,000. So DPW is worth watching in the coming months.
Key Quote
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “Ault Global is pleased to announce the expansion of our strong partnership with BITMAIN, the global leader in cryptocurrency mining and technology. These new purchase orders continue to demonstrate our commitment to our strategic initiatives of becoming one of the top 10 publicly traded Bitcoin mining companies and building one of the most efficient Bitcoin mining operations in the industry. We reconfirm our belief that Bitcoin mining is a fundamental pillar of the digital currency ecosystem, and we intend to be a key contributor to help build a borderless, decentralized and environmentally conscious economic future.”
Traders Corner
DPW stock is trading below the 20-Day and 50-Day Moving averages of $2.12 and $2.28 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.83. The stock is down 11% in the past month.
