Vinanz Limited Vinanz Acquires 171 Additional Bitcoin Miners (5285T)
November 15 2023 - 2:55AM
UK Regulatory
TIDMBTC
RNS Number : 5285T
Vinanz Limited
15 November 2023
15 November 2023
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended). Upon the publication of this announcement via a
Regulatory Information Service, this inside information is now
considered to be in the public domain.
Vinanz Limited
("Vinanz" or "the Company")
Vinanz Acquires 171 Additional Bitcoin Miners in North
America
Vinanz Limited (London AQSE: BTC and US OTCQB: VINZF), the
London listed Bitcoin mining company focusing on decentralised
deployment of Bitcoin mining clusters in multiple data facilities
throughout the US and Canada, is pleased to announce that it has
signed an agreement to buy 171 Bitmain Antminer S19J Pro (110
Terahash) ASIC Bitcoin miners that are already operational and
spinning in BlockLab's data centre in Labrador, Canada.
Further to the Company's news release of 9 November 2023
outlining the Company's plans to triple its North American Bitcoin
fleet by adding another 250 ASIC Bitcoin miners in the coming
months, Vinanz has signed a deal with Luxor, the Company's
preferred North American supplier of Bitcoin miners, that will see
171 ASIC miners bought by the Company from an un-related third
party and adding into the Company's wallet on asset transfer
scheduled for around the 25(th) November 2023.
These 171 new ASIC miners will add about 17 PH/s of processing
power to Vinanz's fleet and will soon be joined by another 80 new
miners which the Company expects to acquire later in the year and
which will take our overall processing power to about 38 PH/s.
Vinanz currently has a total of 9.1 Bitcoin in its wallet and
has current processing power of 12 PH/s with 120 miners currently
operating in Labrador in Canada and Nebraska in the United
States.
The full expanded complement of 371 ASIC miners, when ultimately
installed and spinning by year end, should see a significant
increase in the rate of Bitcoin generation and should add a new
Bitcoin to Vinanz's wallet about every 10 days or so.
David Lenigas, Vinanz's Executive Chairman, said:
"We have been extremely lucky in securing these miners in such a
short period of time. The fact that they are already installed and
operating (spinning) in the same data centre that Vinanz installed
its last 100 miners back in June, is great news and dramatically
shortens the timelines for adding new Bitcoin into our wallet. The
Company is totally focused on building out the number of Bitcoin
miners operating before the next Halving in April next year, when
the market is expecting to see a significant rise in Bitcoin
price."
About Vinanz
Vinanz is listed on the London Aquis markets and is building out
a fully-fledged Bitcoin mining company initially focusing on
installing clusters of Bitcoin miners within multiple facilities
throughout the US and Canada through third-party cryptocurrency
mining providers. Whilst the Company will focus initially on BTC
mining, it will also consider the mining of other cryptocurrencies,
and operations in the DeFi and Big Data space in the future. The
Company intends to be able to provide a listed UK platform to offer
entry to the technology and cryptocurrency business.
The Company's admission document is available to view on its
website www.vinanz.co.uk
The directors of Vinanz Limited accept responsibility for this
announcement.
For further information please contact:
Vinanz Limited
David Lenigas david@vinanz.co.uk
Jeremy Edelman jeremy@vinanz.co.uk
First Sentinel (Corporate Adviser and Broker)
Brian Stockbridge brian@first-sentinel.com
+44 (0) 20 3989 2222
Clear Capital Markets (Broker)
Bob Roberts bobroberts@clear-cm.co.uk
+44 (0) 20 3869 6080
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END
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November 15, 2023 02:55 ET (07:55 GMT)
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