- VivoPower expands mining fleet to acquire XRP at 65% discount.
- Caret Digital’s mining growth boosts XRP acquisition strategy, reducing costs.
- VivoPower’s dual strategy strengthens XRP holdings through mining and purchases.
VivoPower International PLC, a publicly traded company listed on NASDAQ under the ticker VVPR, has announced an exciting development in its digital asset mining strategy. Caret Digital, the company’s mining subsidiary, has been able to negotiate bulk pricing for more mining rigs, which means that the company can expand its proof-of-work activities.
The action is after VivoPower makes additional measures to enrich its XRP-oriented treasury policy, which is supposed to purchase the cryptocurrency at very low-priced levels. According to the recent update, VivoPower plans to acquire XRP at up to a 65% discount by swapping mined tokens from its expanded digital asset mining fleet via bulk purchase deals.
Within this broadened operation, mined tokens will be bought back with XRP, which will provide VivoPower with the chance to purchase XRP at an effective discount of 65% based on the prevailing market rates.
By harnessing this cost-effective strategy, the company aims to have the maximum exposure to XRP at the lowest investment cost. VivoPower is also acquiring XRP as part of its two-pronged strategy, both by mining its own and by buying stocks of Ripple Labs, which is firmly entrenching it in the XRP ecosystem.
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Caret Digital, which focuses on maximizing renewable energy usage for digital asset mining, will be pivotal in this expansion. Mining’s economic sustainability, combined with soaring digital asset prices, has provided a good environment for scaling up operations and acquiring more XRP at a small percentage of its market value.
VivoPower’s Shift to XRP-Centric Operations
VivoPower’s recent efforts signal a significant transformation for the company. The once diversified energy solutions provider is now focused on digital assets, with XRP at the center of its new strategy.
The move is a long-term commitment to purchase and own XRP, in an effort to help grow and make the XRP Ledger (XRPL) useful. This aligns with the company’s vision, which is to facilitate decentralized finance (DeFi) infrastructure and real-world blockchain applications that will establish the company’s role as a digital asset.
VivoPower is a publicly traded company established in 2014 and present in several regions worldwide, such as North America, Europe, and the Middle East. The company is recognized for its sustainable energy solutions through its business units, Tembo and Caret Digital.
Tembo is an electric vehicle solution, whereas Caret Digital is an electric power-based solution, including digital asset mining.
VivoPower is establishing itself as a major digital asset player through this strategic expansion of its digital mining business and its changing strategy of acquiring XRP. This move further reinforces the company’s commitment to maximizing its exposure to the cryptocurrency market, particularly through XRP, as it seeks to strengthen its digital treasury strategy.
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