Publicly listed VivoPower International (stock symbol: VVPR) announced that its crypto mining subsidiary, Caret Digital, will increase its XRP holdings at an effective cost of 65% below the market price by expanding its mining scale and exchanging the mined tokens for XRP. The company did not specify the planned XRP acquisition amount or the type of mining token to be used for the exchange. VivoPower began implementing its XRP treasury strategy in May of this year, supported by a $121 million private placement led by the chairman of Saudi Arabia's Eleventh Holding. The company previously partnered with BitGo for custody and over-the-counter trading, and has also partnered with the Ripple-backed Flare network for a yield farming program. Last month, VivoPower also announced plans to acquire $100 million in private Ripple Labs shares, which it said represented an XRP holding at $0.47 per share, an 86% discount to the market price at the time. The company stated that its strategy combines mining exchange and equity acquisitions to reduce its average holding cost. As of Tuesday's close, VivoPower's stock price fell slightly by 0.5% to $5, with a market value of approximately $50 million.
Catherine
