VivoPower’s Caret Digital to activate Dogecoin mining operations, with revenue and profitable cashflow generation by early January 2025
VivoPower announced that its subsidiary, Caret Digital, will begin Dogecoin mining operations in January 2025, utilizing renewable-powered facilities in Wisconsin and Oregon. The operation will deploy up to 1,000 Antminer L9s across both locations, with potential to generate annual revenues of up to US$25 million and cash EBITDA of up to US$12 million based on current Dogecoin prices.
The company plans to sell most mined Dogecoins rather than hold them, with free cashflow being reinvested into its Tembo e-LV business. Caret Digital is also developing a 55MW renewable-powered mining facility that could generate up to $150 million in annual revenue. A previously approved spin-off of Caret Digital and special dividend is in progress, with updates pending.
VivoPower ha annunciato che la sua controllata, Caret Digital, inizierà le operazioni di mining di Dogecoin nel gennaio 2025, utilizzando strutture alimentate da energie rinnovabili in Wisconsin e Oregon. L'operazione prevede l'implementazione di fino a 1.000 Antminer L9 in entrambe le sedi, con il potenziale di generare ricavi annui fino a 25 milioni di dollari USA e un EBITDA operativo di cassa fino a 12 milioni di dollari USA basato sui prezzi attuali di Dogecoin.
L'azienda prevede di vendere la maggior parte dei Dogecoin estratti piuttosto che trattenerli, con il flusso di cassa disponibile che sarà reinvestito nella sua attività di e-LV Tembo. Caret Digital sta anche sviluppando una struttura di mining alimentata da energia rinnovabile da 55 MW che potrebbe generare fino a 150 milioni di dollari di ricavi annui. È in corso un'operazione di spin-off approvata in precedenza di Caret Digital e un dividendo speciale, con aggiornamenti in arrivo.
VivoPower anunció que su subsidiaria, Caret Digital, comenzará las operaciones de minería de Dogecoin en enero de 2025, utilizando instalaciones alimentadas por energía renovable en Wisconsin y Oregón. La operación desplegará hasta 1.000 Antminer L9 en ambas ubicaciones, con el potencial de generar ingresos anuales de hasta 25 millones de dólares y un EBITDA operativo de efectivo de hasta 12 millones de dólares con base en los precios actuales de Dogecoin.
La empresa planea vender la mayoría de los Dogecoins extraídos en lugar de retenerlos, reinvirtiendo el flujo de caja libre en su negocio Tembo e-LV. Caret Digital también está desarrollando una instalación de minería alimentada por energía renovable de 55 MW que podría generar hasta 150 millones de dólares en ingresos anuales. Está en progreso un spin-off aprobado previamente de Caret Digital y un dividendo especial, con actualizaciones pendientes.
VivoPower는 그 자회사인 Caret Digital가 2025년 1월에 위스콘신과 오리건에 있는 재생 가능 에너지를 이용한 시설에서 도지코인 채굴 작업을 시작할 것이라고 발표했습니다. 이번 작업은 두 위치에 걸쳐 최대 1,000대의 Antminer L9를 배치하여 도지코인 가격에 기반해 연간 최대 2천5백만 달러의 수익과 최대 1천2백만 달러의 현금 EBITDA를 생성할 수 있는 잠재력을 가지고 있습니다.
회사는 대부분의 채굴된 도지코인을 보유하기보다는 판매할 계획이며, 얻어진 자유 현금 흐름은 Tembo e-LV 비즈니스에 재투자될 예정입니다. Caret Digital은 연간 최대 1억5천만 달러의 수익을 생성할 수 있는 55MW 규모의 재생 가능 에너지를 이용한 채굴 시설도 개발 중입니다. Caret Digital의 이전 승인된 스핀오프와 특별 배당금이 진행 중이며, 업데이트가 기다려지고 있습니다.
VivoPower a annoncé que sa filiale, Caret Digital, commencera des opérations de minage de Dogecoin en janvier 2025, en exploitant des installations alimentées par des énergies renouvelables dans le Wisconsin et l'Oregon. L'opération déploiera jusqu'à 1 000 Antminer L9 dans les deux sites, avec un potentiel de générer des revenus annuels pouvant atteindre 25 millions de dollars US et un EBITDA de trésorerie pouvant atteindre 12 millions de dollars US basé sur les prix actuels de Dogecoin.
L'entreprise prévoit de vendre la plupart des Dogecoins minés plutôt que de les conserver, le flux de trésorerie libre étant réinvesti dans son activité Tembo e-LV. Caret Digital développe également une installation de minage alimentée par des énergies renouvelables de 55 MW qui pourrait générer jusqu'à 150 millions de dollars de revenus annuels. Un spin-off précédemment approuvé de Caret Digital et un dividende spécial sont en cours, avec des mises à jour à venir.
VivoPower kündigte an, dass seine Tochtergesellschaft Caret Digital im Januar 2025 mit Dogecoin-Mining-Operationen beginnen wird, unter Verwendung von erneuerbaren Energiequellen in Wisconsin und Oregon. Der Betrieb wird bis zu 1.000 Antminer L9 an beiden Standorten einsetzen, mit dem Potenzial jährliche Einnahmen von bis zu 25 Millionen US-Dollar und ein Cash-EBITDA von bis zu 12 Millionen US-Dollar basierend auf den aktuellen Dogecoin-Preisen zu generieren.
Das Unternehmen plant, die meisten geminten Dogecoins zu verkaufen, anstatt sie zu halten, wobei der freie Cashflow in das Tembo e-LV-Geschäft reinvestiert wird. Caret Digital entwickelt auch eine 55 MW große, erneuerbare Energie betriebene Mining-Anlage, die jährliche Einnahmen von bis zu 150 Millionen Dollar generieren könnte. Eine zuvor genehmigte Abspaltung von Caret Digital und eine Sonderdividende sind in Arbeit, mit ausstehenden Aktualisierungen.
- Projected annual revenue potential of US$25M with cash EBITDA of US$12M
- Non-dilutive financing secured for Antminer L9s acquisition
- Short estimated payback period of 9-12 months
- Future expansion potential with 55MW facility capable of generating US$150M annual revenue
- Immediate revenue generation starting January 2025
- Revenue projections heavily dependent on volatile Dogecoin prices
- Significant capital expenditure required for mining equipment
- Operating costs subject to fluctuating power costs
Insights
Caret Digital has selected renewable-powered hosting facilities in Wisconsin and Oregon with an initial fleet ramping up to 1,000 Antminer L9s to be activated
Annualised revenue potential of up to US
Dogecoin mining is consistent with Caret Digital’s Power-to-X strategy that seeks to activate the highest and best use cases for renewable power capacity
Economics of Dogecoin mining have improved markedly with an estimated payback period of 9-12 months (depending on power costs and based on current market values)
Caret Digital has secured non-dilutive financing to fund the acquisition of the Antminer L9s and will deploy the fleet on a staged basis
LONDON, Dec. 05, 2024 (GLOBE NEWSWIRE) -- VivoPower (“the Company”) announced today that its wholly owned subsidiary, Caret LLC (“Caret Digital”), will commence Dogecoin mining operations with revenue and profitable cashflow generation flowing from the first week of January 2025. Caret Digital has selected two renewable-powered hosting facilities in Wisconsin and Oregon to commence mining operations. It will deploy up to 255 Antminer L9s at the Wisconsin facility first, then ramp up with an additional 745 Antminer L9s at the Oregon 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
VivoPower shareholders had previously approved a spin-off of Caret Digital, in whole or part, as well as a special dividend during the Annual General Meeting held in December 2023. The Company will provide further updates in relation to the progress of the spin-off via a reverse merger and the consequences for VivoPower and its stakeholders, including any special dividend shares for VivoPower shareholders.
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.
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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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