VivoPower’s Caret Digital has Commenced Dogecoin Mining Operations in Wisconsin
VivoPower International (Nasdaq: VVPR) announced that its subsidiary, Caret Digital, has started Dogecoin mining operations in Wisconsin using Antminer L9 rigs. Based on current market conditions, Caret Digital could potentially generate annual revenues of up to $25 million and cash EBITDA of up to $12 million, though these figures are subject to price and cost volatility.
The company plans to sell most of the mined Dogecoin rather than hold them. Any free cashflow will be reinvested into VivoPower's Tembo e-LV business. Additionally, Caret Digital is developing up to 55MW of renewable-powered mining capacity for Dogecoin and Litecoin mining, which could potentially generate revenues of up to $150 million annually based on current market conditions.
VivoPower International (Nasdaq: VVPR) ha annunciato che la sua filiale, Caret Digital, ha avviato le operazioni di mining di Dogecoin in Wisconsin utilizzando attrezzature Antminer L9. Sulla base delle attuali condizioni di mercato, Caret Digital potrebbe generare potenzialmente ricavi annuali fino a 25 milioni di dollari e un EBITDA netto di cassa fino a 12 milioni di dollari, sebbene queste cifre siano soggette a volatilità nei prezzi e nei costi.
L'azienda prevede di vendere la maggior parte del Dogecoin estratto anziché conservarlo. Qualsiasi flusso di cassa libero sarà reinvestito nel business Tembo e-LV di VivoPower. Inoltre, Caret Digital sta sviluppando fino a 55 MW di capacità di mining alimentata da fonti rinnovabili per il mining di Dogecoin e Litecoin, che potrebbe generare potenzialmente ricavi fino a 150 milioni di dollari annualmente, sulla base delle attuali condizioni di mercato.
VivoPower International (Nasdaq: VVPR) anunció que su filial, Caret Digital, ha comenzado las operaciones de minería de Dogecoin en Wisconsin utilizando equipos Antminer L9. Basado en las condiciones actuales del mercado, Caret Digital podría generar potencialmente ingresos anuales de hasta 25 millones de dólares y un EBITDA libre de caja de hasta 12 millones de dólares, aunque estas cifras están sujetas a la volatilidad de precios y costos.
La empresa planea vender la mayor parte del Dogecoin extraído en lugar de mantenerlo. Cualquier flujo de caja libre se reinvertirá en el negocio Tembo e-LV de VivoPower. Además, Caret Digital está desarrollando hasta 55 MW de capacidad de minería alimentada por fuentes renovables para la minería de Dogecoin y Litecoin, lo que podría generar potencialmente ingresos de hasta 150 millones de dólares anuales basándose en las condiciones actuales del mercado.
VivoPower International (Nasdaq: VVPR)은 자회사인 Caret Digital가 애너미터 L9 장비를 사용하여 위스콘신에서 도지코인 채굴 작업을 시작했다고 발표했습니다. 현재 시장 상황을 기준으로 Caret Digital은 연간 최대 2500만 달러의 수익과 최대 1200만 달러의 현금 EBITDA를 잠재적으로 생성할 수 있으며, 이러한 수치는 가격 및 비용 변동성에 따라 달라질 수 있습니다.
회사는 채굴한 도지코인을 보유하기보다는 대부분 판매할 계획입니다. 발생하는 자유 현금 흐름은 VivoPower의 Tembo e-LV 비즈니스에 재투자됩니다. 게다가 Caret Digital은 도지코인과 라이트코인 채굴을 위한 55MW의 재생 가능한 전력 채굴 용량을 개발하고 있으며, 이는 현재 시장 상황을 기반으로 연간 최대 1억 5000만 달러의 수익을 생성할 수 있습니다.
VivoPower International (Nasdaq: VVPR) a annoncé que sa filiale, Caret Digital, a commencé les opérations de minage de Dogecoin dans le Wisconsin en utilisant des équipements Antminer L9. En fonction des conditions actuelles du marché, Caret Digital pourrait générer des revenus annuels pouvant atteindre 25 millions de dollars et un EBITDA libre de trésorerie pouvant atteindre 12 millions de dollars, bien que ces chiffres soient soumis à la volatilité des prix et des coûts.
L'entreprise prévoit de vendre la plupart du Dogecoin extrait plutôt que de le conserver. Tout flux de trésorerie libre sera réinvesti dans l'activité Tembo e-LV de VivoPower. De plus, Caret Digital développe jusqu'à 55 MW de capacité de minage alimentée par des sources renouvelables pour le minage de Dogecoin et de Litecoin, ce qui pourrait potentiellement générer des revenus de jusqu'à 150 millions de dollars par an, en fonction des conditions actuelles du marché.
VivoPower International (Nasdaq: VVPR) hat bekanntgegeben, dass ihre Tochtergesellschaft Caret Digital mit den Dogecoin-Mining-Operationen in Wisconsin unter Verwendung von Antminer L9-Geräten begonnen hat. Basierend auf den aktuellen Marktbedingungen könnte Caret Digital potenziell jährliche Einnahmen von bis zu 25 Millionen Dollar und ein Cash-EBITDA von bis zu 12 Millionen Dollar generieren, obwohl diese Zahlen der Preis- und Kostenvolatilität unterliegen.
Das Unternehmen plant, den Großteil des geschürften Dogecoins zu verkaufen, anstatt ihn zu halten. Jeglicher freie Cashflow wird in das Tembo e-LV-Geschäft von VivoPower reinvestiert. Darüber hinaus entwickelt Caret Digital bis zu 55 MW erneuerbare Mining-Kapazität für das Mining von Dogecoin und Litecoin, was basierend auf den aktuellen Marktbedingungen potenziell Einnahmen von bis zu 150 Millionen Dollar jährlich generieren könnte.
- Initial mining operations launched with potential for $25M annual revenue
- Projected cash EBITDA of up to $12M from current operations
- Planned expansion to 55MW capacity could generate up to $150M annual revenue
- Strategy to immediately sell mined Dogecoin reduces exposure to cryptocurrency volatility
- Revenue projections highly dependent on volatile cryptocurrency prices
- Significant capital investment required for mining equipment and facility expansion
- Operating costs subject to significant variability
Insights
VivoPower's strategic pivot into Dogecoin mining represents a calculated move in the volatile crypto mining sector. The deployment of Antminer L9s, known for their efficient hash rate-to-power consumption ratio, positions them well in the current market. The projected
The company's strategy to immediately sell mined Dogecoin rather than hold it demonstrates a risk-averse approach focused on consistent cash flow generation. The planned 55MW facility expansion could be transformative, potentially generating
For simplified understanding: Think of this like setting up a digital gold mining operation, where instead of holding onto the gold, they're selling it immediately to fund their electric vehicle business. The planned expansion is like moving from a small mining camp to a large-scale industrial operation.
The announcement signals a significant revenue diversification strategy for VivoPower, whose market cap of
The decision to reinvest mining profits into Tembo e-LV represents a clever bootstrapping strategy, using crypto mining as a cash flow engine to fund their sustainable vehicle business. This dual-track approach could provide near-term profitability while maintaining long-term green technology development.
In simpler terms: They're using a profitable short-term business (crypto mining) to fund a long-term sustainable business (electric vehicles), which could significantly strengthen their financial position if executed properly.
The company's commitment to developing renewable-powered mining facilities marks a important differentiator in the crypto mining space, where environmental concerns have become increasingly prominent. The 55MW renewable facility development aligns with growing ESG demands while potentially offering operating cost advantages.
However, the immediate commencement of operations using traditional hosting facilities raises questions about the interim carbon footprint. The strategy of using mining profits to fund Tembo e-LV development creates an interesting sustainability narrative - essentially using crypto mining as a bridge to fund green technology development.
Simply put: They're using a currently energy-intensive operation to eventually build more environmentally friendly mining facilities and fund clean transportation technology. It's like using conventional energy profits to build solar panels - controversial in the short term but potentially beneficial for long-term sustainability goals.
Caret Digital has commenced mining with initial fleet of Antminer L9s
Further mining rigs to be ordered and deployed on a staged basis at hosting facilities in Wisconsin and Oregon
LONDON, Jan. 15, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") announced today that its wholly owned subsidiary, Caret LLC (trading as “Caret Digital”), has commenced Dogecoin mining operations with an initial fleet of Antminer L9 rigs at its Wisconsin hosting facility.
Execution of this strategy will allow Caret Digital to take advantage of the current profitability of Dogecoin mining to generate revenues and free cashflows for VivoPower as a group. Caret Digital does not intend to hold most of the Dogecoin that is mined but will sell or forward sell them as appropriate. Based on current Dogecoin prices and Antminer GPU costs, there is potential for Caret Digital to generate annual revenues of up to US
At the same time, Caret Digital will continue to work on developing up to 55MW of its own renewable-powered mining capacity to be used for Dogecoin and Litecoin mining, as previously announced. With a 55MW facility, Caret Digital would be able to generate revenues of up to
About VivoPower
Established in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focussed on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. VivoPower’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.
About Caret Digital
Caret, LLC, (trading as Caret Digital) a wholly owned subsidiary of VivoPower, and has a Power-to-X strategy involving the development of renewable power infrastructure that is vertically integrated with high energy consumption use cases. In the first phase of its Power-to-X strategy, Caret Digital is building up capacity and infrastructure to mine DOGE coin, aligning with the growing demand for sustainable blockchain operations.
Forward-Looking Statements
This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.
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FAQ
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