VivoPower's subsidiary, Caret Digital, secures financing for 1,000 Antminer L9s, targeting up to $25 million in annual revenue.
Quiver AI Summary
VivoPower International PLC has announced that its subsidiary, Caret LLC (also known as Caret Digital), has secured an asset-backed financing facility to purchase up to 1,000 Antminer L9 mining devices. This fleet is expected to be delivered to hosting facilities starting in December 2024, providing a total hash power of approximately 17,000 GH/s. With current DOGE coin prices and specific power costs, the mining operation could generate annual revenues of up to $25 million. VivoPower, established in 2014 and listed on Nasdaq, focuses on sustainable energy solutions and aims to help customers achieve net-zero carbon emissions. The announcement includes forward-looking statements about the anticipated benefits and outcomes of this financing arrangement, noting that actual results may vary due to various risks and uncertainties.
Potential Positives
- Secured an initial asset backed financing facility, which is non-dilutive to VivoPower shareholders.
- The acquisition of up to 1,000 Antminer L9s is projected to generate potential annual revenues of up to US$25 million.
- This investment enhances the company's capabilities in cryptocurrency mining, adding approximately 17,000 GH/s of hash power.
Potential Negatives
- The announcement relies heavily on assumptions regarding current DOGE coin prices and power costs, making future revenue predictions potentially unstable and speculative.
- Using asset-backed financing may indicate that the company needs immediate capital, which could raise concerns about its financial health or liquidity.
- The press release contains multiple forward-looking statements that are subject to significant risks and uncertainties, which may undermine investor confidence.
FAQ
What is the asset-backed financing facility secured by Caret LLC?
Caret LLC has secured an asset-backed financing facility to purchase up to 1,000 Antminer L9s for cryptocurrency mining.
How much revenue can Caret Digital potentially generate?
Caret Digital can generate potential annual revenues of up to US$25 million at current DOGE coin prices from the mining operation.
What is the hash power of the Antminer L9s fleet?
The fleet of 1,000 Antminer L9s will have a total hash rate of approximately 17,000 GH/s.
Is the financing facility dilutive to VivoPower shareholders?
No, the asset-backed financing facility is non-dilutive to VivoPower shareholders.
When will the Antminer L9s be delivered?
The fleet of 1,000 Antminer L9s is expected to be delivered to hosting facilities starting in December 2024.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VVPR Hedge Fund Activity
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Full Release
Asset backed financing facility is for Caret LLC (trading as Caret Digital) and is non-dilutive to VivoPower shareholders
At current DOGE coin prices, 1,000 Antminer L9s can generate up to US$25m revenues per annum
1,000 Antminer L9s represents approximately 17,000 GH (GigaHash) / s of hash power
London, Dec. 09, 2024 (GLOBE NEWSWIRE) --
VivoPower International PLC (NASDAQ: VVPR) (the "Company" or "VivoPower") announced today that its wholly owned subsidiary, Caret LLC (trading as "Caret Digital"), has secured an initial asset backed financing facility to fund the purchase of up to 1,000 Antminer L9s.
As a result of securing this facility, the fleet of 1,000 Antminer L9s is expected to be delivered to hosting facilities from December 2024. It will have a total hash rate of approximately 17,000 GH/s. From this initial fleet, Caret Digital has the capacity to generate potential annual revenues of up to US$25 million, assuming current DOGE coin prices and power costs of 8c/watt.
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.
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.
Contact
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shareholders@vivopower.com
