NEWPORT BEACH, Calif., Aug. 22, 2018 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW), a
diversified holding company, today announced that the historic Valatie Falls, New York hydroelectric dam will become operational
during the fourth quarter of 2018 to serve as a fully-dedicated source of low-cost, renewable power for a new co-located
cryptocurrency mining farm to be built and operated by DPW’s wholly-owned Super Crypto Mining subsidiary.
The historic 1-megawatt Valatie Falls dam, originally built in 1983, was purchased in March 2018 by Valatie Falls Hydro, LLC
using debt financing provided by DPW subsidiary Digital Power Lending. DPW’s Super Crypto Mining subsidiary plans to build a new
cryptocurrency mining farm at the site employing its new proprietary AntEater™ miner, which it developed in early 2018 in
collaboration with Samsung Semiconductors.
DPW Holdings’ CEO and Chairman, Milton “Todd” Ault, III said, “Our successful repurposing of Valatie Falls dam to provide clean,
low-cost, renewable power to Super Crypto’s future co-located mining farm is another important step in our strategy to create an
economically viable, self-sustaining cryptocurrency mining business. This project provided a unique opportunity for DPW
subsidiaries to collaborate and innovate to create a new model for cryptocurrency mining, for which electricity is by far the
largest operational cost factor. Our power solution engineers at Coolisys Technologies, Inc. worked closely with our cryptocurrency
mining engineers and with Valatie Falls Hydro, LLC’s hydroelectric engineers to upgrade and retrofit the Valatie Falls dam for this
exciting new phase of its long-lived operation. We look forward to bringing this innovative new facility fully on-line during the
fourth quarter of 2018.”
ABOUT DPW HOLDINGS, INC.
DPW Holdings, Inc., (www.DPWHoldings.com), is a diversified holding company pursuing a growth strategy of acquiring
undervalued assets and disruptive technologies with a global impact. The Company invests in diverse industries within the
commercial, defense/aerospace, industrial, communication, medical, crypto-mining, hospitality, textile, and corporate
investment/lending sectors. DPW has evolved and grown from being a leader in advanced power products. Through its subsidiaries, the
Company continues to be a leader and supplier of innovative technologies, advanced design and development services, and
state-of-the-art power products and solutions. DPW Holdings, Inc.’s headquarters is located at 201 Shipyard Way, Suite E, Newport
Beach, CA 92663; www.DPWHoldings.com.
Forward-Looking Statements
The foregoing release contains “forward looking statements” 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 regarding the anticipated
operational timeline of the hydroelectric facility and co-located cryptocurrency mining farm. These forward-looking statements
generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include
words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,”
“opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are
forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and
uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to
update any of them publicly in light of new information or future events. Actual results could differ materially from those
contained in any forward-looking statement as a result of various factors. 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.DPWHoldings.com.
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Contacts: Ron Parham or Kirsten Chapman, LHA Investor Relations, 415.433.3777, dpwholdings@lhai.com