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VivoPower International’s subsidiary Caret Digital has secured a CAD$140 million (approximately US$100m) binding investment commitment from GEM Global Yield SCS (GGY). The investment, structured as a share subscription facility, requires Caret Digital to list on a Canadian stock exchange, with GGY’s shareholding capped at 9.9%.
You are viewing: VivoPower’s Caret Digital Secures Massive CAD$140M Investment for Crypto Mining Expansion
The funds will be invested at the Caret Digital subsidiary level, avoiding dilution for VivoPower shareholders. The investment will support Caret Digital’s Power-to-X (P2X) strategy, which includes two phases: first, building data centre infrastructure for DOGE coin mining, and second, developing AI-enabled data centres. VivoPower shareholders previously approved a spin-off of Caret Digital and a special dividend during the December 2023 Annual General Meeting.
La sussidiaria di VivoPower International, Caret Digital, ha ottenuto un impegno di investimento vincolante di CAD$140 milioni (circa US$100 milioni) da GEM Global Yield SCS (GGY). L’investimento, strutturato come un’impianto di sottoscrizione azionaria, richiede a Caret Digital di quotarsi su una borsa canadese, con la partecipazione di GGY limitata al 9,9%.
I fondi saranno investiti a livello di sussidiaria Caret Digital, evitando la diluizione per gli azionisti di VivoPower. L’investimento supporterà la strategia Power-to-X (P2X) di Caret Digital, che include due fasi: prima, la costruzione di un’infrastruttura di data center per il mining di DOGE coin, e in secondo luogo, lo sviluppo di data center abilitati all’IA. Gli azionisti di VivoPower hanno precedentemente approvato la scissione di Caret Digital e un dividendo speciale durante l’Assemblea Generale Annuale di dicembre 2023.
La subsidiaria de VivoPower International, Caret Digital, ha asegurado un compromiso de inversión vinculante de CAD$140 millones (aproximadamente US$100 millones) de GEM Global Yield SCS (GGY). La inversión, estructurada como una instalación de suscripción de acciones, requiere que Caret Digital se cotice en una bolsa canadiense, con la participación de GGY limitada al 9,9%.
Los fondos se invertirán a nivel de la subsidiaria Caret Digital, evitando la dilución para los accionistas de VivoPower. La inversión apoyará la estrategia Power-to-X (P2X) de Caret Digital, que incluye dos fases: primero, la construcción de infraestructura de centro de datos para la minería de DOGE coin, y segundo, el desarrollo de centros de datos habilitados para IA. Los accionistas de VivoPower aprobaron previamente la escisión de Caret Digital y un dividendo especial durante la Junta General Anual de diciembre de 2023.
VivoPower International의 자회사 Caret Digital이 GEM Global Yield SCS(GGY)로부터 1억 4천만 CAD(약 1억 달러)의 구속력 있는 투자 약정을 확보했습니다. 주식 구독 시설로 구성된 이 투자는 Caret Digital이 캐나다 증권 거래소에 상장할 것을 요구하며, GGY의 지분은 9.9%로 제한됩니다.
이 자금은 Caret Digital 자회사 수준에서 투자되어 VivoPower 주주의 희석을 피할 것입니다. 이 투자는 Caret Digital의 Power-to-X(P2X) 전략을 지원하며, 여기에는 두 가지 단계가 포함됩니다: 첫째, DOGE 코인 채굴을 위한 데이터 센터 인프라 구축, 둘째, AI 지원 데이터 센터 개발입니다. VivoPower의 주주들은 2023년 12월 연례 총회에서 Caret Digital의 분사를 승인하고 특별 배당금을 수여했습니다.
La filiale de VivoPower International, Caret Digital, a sécurisé un engagement d’investissement contraignant de 140 millions de CAD (environ 100 millions de USD) de GEM Global Yield SCS (GGY). L’investissement, structuré comme une installation de souscription d’actions, exige que Caret Digital s’enregistre sur une bourse canadienne, la participation de GGY étant limitée à 9,9 %.
Les fonds seront investis au niveau de la filiale Caret Digital, évitant ainsi la dilution pour les actionnaires de VivoPower. Cet investissement soutiendra la stratégie Power-to-X (P2X) de Caret Digital, qui comprend deux phases : d’abord, la construction d’une infrastructure de centre de données pour l’exploitation de DOGE coins, et ensuite, le développement de centres de données alimentés par l’IA. Les actionnaires de VivoPower ont précédemment approuvé la scission de Caret Digital et un dividende spécial lors de l’Assemblée Générale Annuelle de décembre 2023.
Die Tochtergesellschaft von VivoPower International, Caret Digital, hat ein verbindliches Investitionsengagement in Höhe von CAD$140 Millionen (etwa US$100 Millionen) von GEM Global Yield SCS (GGY) gesichert. Die Investition, die als Aktienzeichnungsanlage strukturiert ist, erfordert, dass Caret Digital an einer kanadischen Börse notiert wird, wobei der Anteil von GGY auf 9,9 % begrenzt ist.
Die Mittel werden auf Ebene der Tochtergesellschaft Caret Digital investiert, um eine Verwässerung der VivoPower-Aktionäre zu vermeiden. Die Investition wird die Power-to-X (P2X)-Strategie von Caret Digital unterstützen, die zwei Phasen umfasst: Erstens, den Aufbau einer Datenzentrumsinfrastruktur für das Mining von DOGE-Coins und zweitens, die Entwicklung von KI-gestützten Datenzentren. Die Aktionäre von VivoPower hatten zuvor auf der Hauptversammlung im Dezember 2023 die Abspaltung von Caret Digital und eine Sonderdividende genehmigt.
Positive
- Secured CAD$140M (US$100M) investment commitment
- Non-dilutive funding structure for VivoPower shareholders
- GGY ownership cap at 9.9% provides investment control
- Shareholders approved potential special dividend
Negative
- Investment contingent on separate Canadian exchange listing
- Exposure to volatile cryptocurrency market through DOGE mining
Insights
The secured
The planned listing on a Canadian exchange through a reverse merger could unlock significant value. Historically, crypto-mining companies have commanded higher valuations in Canadian markets compared to traditional energy companies. The 9.9% ownership cap for GGY suggests careful consideration of control and governance structures.
The pivot to DOGE coin mining represents a calculated risk. While cryptocurrency mining can offer attractive margins when powered by renewable energy, success will heavily depend on DOGE’s price movements and mining difficulty rates. The second phase focusing on AI-enabled data centers provides a valuable pivot option should crypto mining economics deteriorate.
The convergence of renewable energy with crypto mining and AI infrastructure represents an innovative approach to power utilization optimization. The Power-to-X (P2X) strategy is particularly clever – it creates flexible power consumption that can be adjusted based on grid demand and pricing, potentially generating additional revenue through grid services.
The focus on DOGE coin mining is intriguing. While Bitcoin mining is highly competitive with specialized ASIC hardware, DOGE uses the Scrypt algorithm, which can be more accessible and potentially profitable with the right energy costs. The planned progression to AI-enabled data centers shows foresight, as the infrastructure requirements significantly overlap, allowing for dynamic allocation between crypto mining and AI computation based on market conditions.
The investment commitment is in the form of a share subscription facility from GEM Global Yield LLC SCS (“GGY”) and is subject to a separate listing of Caret Digital on a Canadian stock exchange
GGY’s shareholding will be capped at
Funds will be invested at the Caret Digital subsidiary level and hence non-dilutive for VivoPower shareholders
Funds from the investment will be used to execute upon Caret Digital’s Power-to-X strategy (“P2X”) which seeks to activate the highest and best use cases for renewable power capacity
First phase of Caret Digital’s P2X strategy is building out capacity including data centre infrastructure for DOGE coin mining
Second phase of Caret Digital’s P2X strategy is AI enabled data centres
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DOGE coin 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
LONDON, Jan. 13, 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 secured a CAD
Proceeds from the investment will be used to execute on and build out Caret Digital’s Power2X strategy, including in its first phase, the mining of DOGE coin, as well as for working capital and general corporate purposes.
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.
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.
About GEM
Global Emerging Markets (“GEM”) is a
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
Shareholder Enquiries
[email protected]
FAQ
What is the value of GEM Global’s investment commitment to VivoPower’s Caret Digital (VVPR)?
GEM Global Yield SCS has committed CAD$140 million (approximately US$100 million) in investment to Caret Digital, VivoPower’s subsidiary.
How will the CAD$140M investment in Caret Digital affect VVPR shareholders?
The investment will be non-dilutive for VivoPower shareholders as it will be made at the Caret Digital subsidiary level.
What are the two phases of Caret Digital’s Power-to-X strategy?
Phase one involves building data centre infrastructure for DOGE coin mining, while phase two focuses on developing AI-enabled data centres.
What conditions must be met for Caret Digital to receive the GEM Global investment?
Caret Digital must secure a listing on a Canadian stock exchange, and GGY’s shareholding will be capped at 9.9%.
When did VVPR shareholders approve the Caret Digital spin-off?
VivoPower shareholders approved the potential spin-off of Caret Digital and a special dividend during the Annual General Meeting in December 2023.
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