The renewable energy company #VivoPower (listed on #Nasdaq under the code VVPR) has just announced that its subsidiary, Caret Digital, will begin mining Dogecoin (DOGE) and Litecoin (LTC) starting January 2024. This is a bold move to combine blockchain technology with sustainable energy.

Mining strategy and potential profits

According to the announcement, Caret Digital expects to achieve annual revenue of about $25 million and earnings before interest, taxes, depreciation, and amortization (EBITDA) of up to $12 million. Notably, the mining operations will be implemented at renewable energy facilities in #Wisconsin and Oregon, with a plan to develop 55 MW of mining capacity from renewable energy.

Caret Digital does not intend to hold the majority of $DOGE after mining but will sell it as necessary. This helps the company optimize cash flow and minimize price volatility risks from the crypto market.

Impact on the market

Following this announcement, VivoPower's stock has risen more than 50% in the past month; however, the stock price has decreased by 14% in the last 24 hours, currently trading at $1.16.

DOGE and Litecoin – potential from Proof-of-Work

Both Dogecoin and $LTC use a Proof-of-Work mechanism, requiring a large amount of energy to mine. Dogecoin, initially created as a joke, has become the 7th largest cryptocurrency with a market cap of $63.7 billion, largely due to attention from #elonmusk and the online community. Litecoin ranks 25th with a market cap of over $10 billion.

Green energy: An inevitable trend for crypto mining

By using renewable energy, VivoPower is paving a new path for sustainable cryptocurrency mining. This is not only a strategy to optimize profits but also aligns with the green development trend, minimizing negative impacts on the environment.

Conclusion: VivoPower's move is an illustrative example of how companies are applying renewable energy to crypto mining, creating benefits not only financially but also environmentally. Could this be the future trend of the blockchain industry? Stay tuned for new developments!