Listed company VivoPower hoards XRP at low cost with replacement strategy, claiming to receive a 65% discount

Odaily Planet Daily News Publicly listed company VivoPower International (stock code: VVPR) announced that its crypto mining subsidiary Caret Digital will increase its holdings of XRP at an effective cost equivalent to a 65% discount on the market price by expanding its mining scale and swapping its mined tokens to XRP. The company did not specify the amount of XRP planned to be acquired and the mining currency used for replacement. VivoPower has begun implementing the XRP treasury strategy since May this year and has received $121 million in private equity financing led by the chairman of Saudi Eleventh Holding. Previously, the company had entered into custody and over-the-counter partnerships with BitGo and launched a revenue farming program through collaboration with the Ripple-backed Flare network. Last month, VivoPower also announced plans to acquire private shares of Ripple Labs for $100 million, saying it is equivalent to holding XRP at a unit price of $0.47, as low as 86% from the market price at that time. The company said its strategy is parallel to the dual-line mining replacement and equity acquisition to reduce the average holding cost. As of Tuesday's close, VivoPower shares fell slightly by 0.5% to $5, with a market value of about $50 million.