VivoPower Subsidiary Caret to Launch Solar-Powered Crypto Mining Business

Posted on by American Coins & Gold

VivoPower Subsidiary Caret to Launch Solar-Powered Crypto Mining Business
VivoPower (Nasdaq: VVPR), a sustainable energy service provider, plans to start a crypto mining business through its subsidiary Caret, which owns solar power projects throughout the U.S.The new business will be named “Caret Decimal” and will have the capability to mine cryptocurrencies, including bitcoin, ether and litecoin, according to a statement on Wednesday.For the deal, Caret will contribute an initial 206 MW-DC of solar sites in Texas in exchange for $20 million of equity in Caret Decimal.The solar power site will be built over a 24-month period, and VivoPower said it ultimately expects to spin off Caret Decimal via an…