VivoPower Expands Mining and Secures 65% Discount on XRP

VivoPower expands mining capacity through bulk discounts to increase XRP reserves.
The company claims it can acquire XRP at a 65% discount via mining token swaps.
VivoPower has a dual strategy of XRP acquisition via mining and Ripple share purchases.
VivoPower’s partnership with Flare Networks aims to grow its XRP treasury’s utility.

VivoPower, a publicly traded company with a strong focus on XRP as part of its treasury strategy, has expanded its mining operations. The company’s digital asset mining unit, Caret Digital, has secured bulk discounts on additional mining rigs. As part of its ongoing strategy, VivoPower will continue swapping mined assets into XRP, a move it claims will allow it to acquire the token at a 65% discount compared to market prices.

Expansion of Mining Operations

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VivoPower’s mining arm, Caret Digital, has recently secured bulk discounts for additional mining rigs, a strategic move to boost its mining capacity. This expansion allows the company to increase its output while maintaining lower costs, an essential factor given the rising prices in the digital asset mining sector. These additional rigs will help VivoPower enhance its position in the mining industry as it continues to mine Bitcoin, Litecoin, and Dogecoin.

The company did not reveal the specific number of mining rigs added but emphasized that this move is key to supporting its broader digital asset strategy. By leveraging the bulk discounts, VivoPower aims to maximize the efficiency of its mining operations and further its goal of acquiring XRP at a lower cost.

Token Swapping to Increase XRP Holdings

As part of VivoPower’s dual-pronged strategy, it continues to swap mined tokens into XRP. This process allows the company to accumulate XRP at a significantly discounted rate. VivoPower claims that by exchanging its mined tokens, it will be able to acquire XRP at an effective 65% discount.

Currently, Caret Digital mines multiple digital assets, including Bitcoin, Litecoin, and Dogecoin. However, VivoPower’s focus remains on using these assets to acquire XRP, aligning with its long-term strategy of securing exposure to the XRP ecosystem. While the company did not disclose the exact number of XRP it expects to acquire through this process, the move is consistent with its commitment to building a substantial XRP treasury.

Strategic Partnerships and Investments

VivoPower’s commitment to XRP extends beyond its mining operations. Earlier this year, the company raised $121 million in a private placement led by prominent investors, including His Royal Highness Prince Abdulaziz bin Turki bin Talal Al Saud. The funding was directed toward bolstering VivoPower’s XRP-focused treasury strategy.

In addition to acquiring XRP directly through mining swaps, VivoPower has taken significant steps to diversify its holdings. In June, the company entered into a partnership with BitGo, a trusted custodian and over-the-counter trading partner. This relationship allows VivoPower to securely acquire XRP and manage its growing digital asset portfolio.

Future Plans for XRP Holdings

VivoPower’s plans for XRP also include partnerships that allow the company to generate yield from its growing treasury. In recent months, VivoPower has partnered with Flare Networks, a layer-1 blockchain developer backed by Ripple Labs, to deploy its XRP holdings in decentralized finance (DeFi) protocols. This partnership aims to create new revenue streams while enhancing the utility of the company’s XRP reserves.

Furthermore, VivoPower recently announced a pilot program with Doppler Finance, where $30 million worth of XRP will be deployed into structured yield strategies. Depending on the program’s success, this amount could increase to $200 million. These steps reflect VivoPower’s broader goal of managing its XRP reserves dynamically and with a focus on long-term value creation.

VivoPower’s multi-pronged approach to XRP accumulation, which combines mining swaps, direct XRP purchases, and equity investments in Ripple Labs, continues to position the company as a leading entity within the XRP ecosystem.

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