The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")

31 May 2023

VINANZ LIMITED

("Vinanz" or the Company")

First Interim Results for the Six Months to 28 February 2023

(Unaudited)

Vinanz Ltd announces its first interim results for the six months period ended 28 February 2023 (the "Period"). Shareholders are reminded that these results are unaudited and based on the Company's management accounts.

This has been an exciting Period for the Company as we prepared to transition from a concept to reality, so much so that Vinanz's business as a funded Bitcoin mining company really only begun post the end of this reporting Period. 

Subsequent to the end of the Period, Vinanz commenced trading of the Company's Ordinary Shares on the Access segment of the Aquis Stock Exchange ("AQSE") in England on 21 April 2023 under the ticker "BTC", following a successful subscription and placing of £755,000 (before expenses) by issuing 25,166,667 shares at 3 pence per share. The Company now has 116,491,839 Ordinary Shares in issue and the market capitalisation of the Company on Admission to trading on AQSE.

In addition to the funds raised through the AQSE listing, Vinanz had 20 Bitcoin miners spinning in Nebraska and 5.01153011 Bitcoins in its ownership.

Vinanz aims to eventually build 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.

Within its first week of being listed, the Company announced its first expansion of Bitcoin mining machines by placing an order for the purchase and installation of 100 new Bitmain Antminer S19J Pro (104 TH/s) ASIC miners. These miners were ordered from a USA company, Luxor Technology Corporation.

This expansion increases the number of Bitcoin ASIC miners from 20 to 120 and increases Vinanz's combined Terrahash processing power in North America by 650% to 12,000 TH/s.

The contracted cost to acquire the 100 new ASIC miners is USD $13.50 per TH with a total purchase price shipped of USD $159,000. The hardware will be installed and operated under a Hosting Services Agreement in Labrador, in northeast Canada. Labrador was an ideal choice of location for the Company's first expansion of its ASIC miners as the energy in Labrador is primarily generated from GREEN HYDRO. As Vinanz's fleet scales, electricity rates will decrease on a sliding scale from USD 6.6 cents per kWh to USD 5.7 cents or less.

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.

Commenting on the results, David Lenigas, Chairman of Vinanz, said:

"It's fabulous to have finally navigated the listing process of Vinanz onto the Aquis Stock Exchange and start trading. Our goal is to ultimately build out a profitable business by deploying decentralised clusters of Bitcoin miners in the USA and Canada. Our first BTC miners are already spinning in Nebraska and our next 100 Bitcoin machine cluster of miners into Canada shortly. Our technical team are already assessing preferred locations for the next batches of miners. Vinanz is focused on maximising its BTC mining operations as the next Bitcoin halving, expected to take place in April 2024, approaches. To date, over 19 million BTC (or over 92% of all BTC possible) has already been created. The rate at which new Bitcoin is created decreases by half every 210,000 blocks mined, or roughly every four years until all 21 million Bitcoin have been mined. Historically, data suggests that BTC has hit new highs post the last three halvings and Vinanz aims to be strategically positioned as the number of Bitcoins mined increases towards that magic 21 million."

"And of course, I must finish by thanking all the advisers, consultants and shareholders who have made the listing on Vinanz possible."

The Directors of the Company accept responsibility for the contents of this announcement.

END

The Company's regulatory announcements are available to view on its website www.vinanz.co.uk

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

Balance Sheet

Vinanz Limited

As at 28 February 2023

Statement of Cash Flows