NEW YORK, Nov. 12, 2020 /PRNewswire/ — Digital Power-Optimization (or “DPO”) has initiated cryptocurrency mining operations at its first partner location. DPO develops and operates cryptocurrency mining systems as a service, helping energy producers to maximize the profitability and efficiency of power generation assets and related infrastructure.
“When a power generation asset or related infrastructure is not being used at 100% capacity 24/7, that presents an opportunity for improvement,” said DPO’s Founder and CEO, Andrew Webber. “Via cryptocurrency mining, DPO can provide power producers with a guaranteed always-available power off-taker, setting a meaningfully higher price floor for energy which would otherwise be sold at unattractive prices. No longer do generation asset owners and operators need to curtail production or accept a price for their power below $X, because $X is the equivalent value that can be captured through cryptocurrency mining at any given time. DPO facilitates that operation seamlessly on behalf of our partners.”
DPO is assisting Sangha Systems to fully utilize excess transformer and floorspace capacity at Sangha’s cryptocurrency mine-hosting and energy-services facility in Hennepin, IL. The two companies worked together to right-size a DPO-owned machine deployment powered through Sangha’s on-site substation at highly attractive pricing. As expected, DPO’s Hennepin operations were immediately free-cash-flow positive while simultaneously increasing Sangha’s revenue and profitability.
DPO’s initial mining deployment comes on the heels of the company’s successful Seed funding round in September 2020. In addition to the current batch of mining computers, DPO has a second shipment of machines expected to come online in early 2021. DPO is currently in discussions with multiple power-generation operators and is seeking to expand operations to several sites around the U.S and Europe in the near future.
Interested parties may reach Digital Power-Optimization LLC via the company’s website: https://digitalpoweroptimization.com/.
SOURCE Digital Power-Optimization LLC