NEW YORK, March 30, 2022 /PRNewswire/ — Digital Power Optimization, Inc. (“DPO”) announced today that it has partnered with a hydroelectric power producer and a multi-billion-dollar family office to form a next-generation green power company. Cascade Digital Power (“Cascade”) is focused on acquiring existing hydro assets and integrating wholly-owned, on-site cryptocurrency mining operations to fund maintenance, repairs and improvements, as well as increase profitability. This strategy uses 100% green and renewable hydro power to secure the Bitcoin network while powering local communities and creating local jobs.
Cascade began industrial-scale mining operations at the initial project site in Hatfield, WI in mid-February 2022. The mining operations deployed and operated by DPO include state-of-the-art Bitmain S19j Pro cryptocurrency mining computers and custom electrical infrastructure. The generation of power at the 6MW site is driven by water flows from nearby Lake Arbutus, which was created as a result of the dam and power plant construction in 1908. The purchase of cryptocurrency mining computers (known as ASICs) and related infrastructure was funded by a multi-billion-dollar family office. This initial site is the seed asset that launches Cascade’s strategy to build a portfolio of hydroelectric assets co-located with cryptocurrency mining operations throughout North America.
“We are excited about this announcement because this project brings together several elements that we think are important to the future of energy and crypto, said Andrew Webber, CEO of DPO. “The green and consistent nature of hydroelectric power makes it a perfect supply for cryptocurrency mining, as has been demonstrated around the globe. Here, we’re deploying mining in a vertically integrated way at a 114-year-old asset and created a win-win-win scenario for everyone involved.”
Alex Stoewer, COO of DPO, noted, “This project dramatically accelerates the recoupment of the capital expenses our partners at Wiconi incurred in bringing this project back from its prior state of disrepair. The addition of cryptocurrency mining not only allows us to revitalize these underutilized and undercapitalized hydro assets, it creates jobs in local communities and incentivizes more development of green power production. Underinvestment in our nation’s infrastructure has reached dangerous levels and we believe this is one way the private sector can help take the burden off of federal, state, and local governments.”
About Digital Power Optimization
Digital Power Optimization is a leading energy services provider which utilizes cryptocurrency mining as a tool to help power producers maximize the value of their energy. DPO offers a unique and proprietary Cryptocurrency Mining as a Service (CMaaS) strategy and structure, which aligns its interests with the interests of its partners in the energy sector. DPO is privately held. For more information on DPO, please visit DigitalPowerOptimization.com.
About Wiconi Hydro
Wiconi Hydro is an owner/operator of small and mid-scale hydroelectric assets in the United States. Wiconi is privately held.
About Cascade Digital Power
Cascade Digital Power is a next-generation energy company that seeks to vertically integrate cryptocurrency mining as part of its strategy to acquire and improve existing hydro assets. Cascade is privately held.
SOURCE Digital Power Optimization, Inc.