Bitcoin Mining Stocks That are Trending Right Now

CORAL GABLES, FL / ACCESSWIRE / March 23, 2018 / The markets have been volatile following the fed decision to raise rates on Wednesday. The central bank also increased its forecast for multiple rate increases it expects to make in 2019. Stocks have seen a seesaw of price action, swinging between gains and losses after the policy announcement and during Powell’s news conference before closing out the session.

“The Fed is forecasting two more hikes this year, but beyond that nobody knows what the economy will do, so their projections are meaningless,” said Joe Saluzzi, co-head of equity trading at Themis Trading.

Despite this case, there were some stocks that continued to gain more attention on Friday while the rest of the markets panicked. This includes Atlas Cloud Enterprises (OTC PINK: ATLEF) and DPW Holdings, Inc. (NYSE American: DPW)

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Atlas Cloud Enterprises recently announced the closing of the previously disclosed acquisition of MKH Electric City Holdings LLC. The transaction includes a 6,600-sq. ft. facility, which is in the process of being upgraded to industrial-scale cryptocurrency mining standards. Due to its location, the facility significantly benefits from electrical provisioning at approximately $0.03/kWh, which is one of the least expensive commercial rates in the world.

With bitcoin and other cryptocurrency prices recovering this week, digital currency mining companies have been in a spotlight. Shares of Atlas Cloud have increased by as much as 31.25% since the beginning of the week.

DPW Holdings, Inc. announced today that the company has entered into an agreement with a U.S. based entity securing the right to 25 megawatts of power in support of SCM’s operations of approximately 20,000 mining rigs at the location.

“We are excited about this new arrangement for many reasons. This not only helps SCM reach our 2018 goals but also provides capacity for future growth. We are proud to be working with a well-respected data facility leveraging efficiencies that result in a symbiotic cost-effective relationship. This is a unique relationship whereby SCM has obtained access to electricity for the miners at costs competitive with global locations, meaning that we can maintain our operations within the U.S. We will have more to share in the coming months specific to the operation as well as “Green Energy” practices that we are employing at the location,” commented Darren Magot, the CEO of SCM.

Shares were up sharply pre-market on Friday.

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