VivoPower International PLC, a Nasdaq-listed energy company, is significantly expanding its proof-of-work mining operations through its subsidiary Caret Digital to acquire XRP at an effective 65% discount. The strategy involves mining various tokens and converting them into XRP, combined with strategic purchases of Ripple Labs shares, to maximize XRP exposure at the lowest average cost.
The company, which launched its XRP-centric treasury strategy in late May backed by a $121 million private placement led by Prince Abdulaziz bin Turki bin Talal Al Saud, is also partnering with Flare Network to generate yield on its XRP holdings. This yield is systematically reinvested, enhancing portfolio efficiency. BitGo serves as the designated trading partner for over-the-counter trades.
This move reflects a growing trend of traditional companies integrating cryptocurrencies into strategic financial planning, demonstrating a dual approach of token swapping and equity investment to mitigate risk and build a robust digital asset treasury.