Vivopower International Plc (Nasdaq: VVPR) revealed on September 16 that its subsidiary Caret Digital will significantly expand its proof-of-work mining fleet after negotiating bulk discounts on mining rigs. The company simultaneously doubled down on its XRP-centric treasury strategy, claiming that exchanging mined tokens into XRP results in an effective 65% discount based on current market prices.
Fleet Expansion and Cost Advantage
With rising cryptocurrency prices improving mining economics, Vivopower decided to seize the opportunity to scale its operations. Management noted that bulk equipment discounts further lower overall costs and boost future token production capacity. Caret Digital, which focuses on renewable-powered digital asset mining, will enhance its hashrate and output through this expansion.
Dual Treasury Strategy for XRP
Vivopower has positioned XRP as its primary reserve asset and adopted a two-pronged treasury approach: converting mined tokens (such as Bitcoin) into XRP, and purchasing shares of Ripple Labs to gain indirect XRP exposure. The company explained: “A key objective of this strategy is to secure XRP exposure at the lowest average cost possible, through a combination of token swapping from digital asset mining activities and by buying Ripple Labs shares. Vivopower will dynamically manage asset allocation as part of its portfolio management processes.”
Regarding the token swap mechanism, the firm stated: “Mined tokens will be exchanged into XRP, delivering an effective 65% discount, based on current market prices.” This method is designed to build reserves efficiently while minimizing acquisition costs and actively contributing to the XRP ecosystem.
First Enterprise Built Around XRP as Core Reserve
Executives described the initiative as part of Vivopower’s transformation into the first publicly listed enterprise structured around XRP as a core reserve asset. Beyond mining and treasury management, the company’s long-term vision includes supporting the XRP Ledger by contributing to decentralized finance infrastructure and blockchain-based real-world applications. Founded in 2014 and listed on Nasdaq since 2016, Vivopower operates across the UK, Australia, North America, Europe, the Middle East, and Southeast Asia. Its two main divisions are Caret Digital (digital asset mining) and Tembo (electric mobility and energy solutions).
This strategic upgrade not only underscores Vivopower’s deep commitment to the XRP ecosystem but also presents an industry paradigm for accumulating major crypto assets at discounted costs through mined token conversion. As the mining fleet expands and swap volumes increase, the market will watch how the company balances market risk with discount benefits.