Key Takeaways
- VivoPower plans to acquire a 40MW data center in Norway, emphasizing the site’s renewable energy utilization from hydropower.
- The acquisition aligns with VivoPower’s focus on sustainable energy solutions and is valued at approximately $40 million.
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VivoPower, an XRP-focused digital asset enterprise, announced Tuesday that it has secured an exclusive deal to purchase a 40MW+ Norwegian data center, with plans to transition the site from blockchain compute to AI workloads.
Pending shareholder approval, the acquisition, valued at approximately $40 million, is projected to add $10 million to VivoPower’s pro forma EBITDA and render the company profitable at the group level.
The facility, with a potential expansion to 80MW by 2026, will transition from hosting blockchain operations to becoming a Sovereign AI Hub aimed at supporting carbon-neutral compute for Large Language Models (LLM) training and inference.
VivoPower recently entered into a partnership with Lean Ventures to form a joint venture, Vivo Federation, to purchase $300 million in Ripple Labs shares. Vivo Federation will manage the acquisition and administration of the shares and has already been approved by Ripple Labs for an initial preferred share purchase.