Vivopower Expands Mining Fleet to Acquire XRP at 65% Discount
Vivopower, a NASDAQ-listed company, has announced plans to expand its mining fleet to acquire XRP at a discounted rate of 65%. This move is part of the company’s strategy to maximize its XRP exposure while minimizing costs. According to reports, Vivopower’s digital asset mining unit, Caret Digital, will be adding proof-of-work rigs to its existing fleet, which will enable the company to convert mined tokens into XRP.
Strategic Approach to XRP Acquisition
The company’s approach to acquiring XRP involves a combination of token swaps from mining operations and strategic purchases from Ripple Labs shares. By converting mined tokens into XRP instead of buying directly at market prices, Vivopower can secure the digital asset at a significantly lower cost. This strategy is expected to provide the company with a competitive edge in the market while also increasing its XRP holdings.
Vivopower’s focus on XRP as the core asset of its Ministry of Finance has been ongoing since the beginning of the year. The company has demonstrated its commitment to this strategy through a private placement of $121 million, which was supported by Prince Abdulaziz bin Turki bin Talal al Saud. As part of this strategy, Vivopower aims to increase its XRP exposure through a combination of digital asset mining and strategic acquisitions, including OTC transactions and share purchases from Ripple Labs.
Partnerships and Initiatives
In addition to its mining operations, Vivopower has also partnered with Flare, a blockchain supported by Ripple Labs, to generate earnings for its XRP holdings. The return program enables the company to achieve returns for the XRP used in its operations, which are systematically invested in the Ministry of Finance, improving the total portfolio efficiency. This partnership is expected to further enhance Vivopower’s XRP holdings and provide a new revenue stream for the company.
For more information on Vivopower’s XRP-centric treasury and its expansion plans, please visit https://crypto.news/xrp-centric-treasury-company-vivopower-expands-mining-fleet-to-acquire-xrp-at-65-discount/
