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Vinanz Limited - Bitcoin Mining Operational Update

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Vinanz Limited · BTC

29/09/2023 07:00

Vinanz Limited - Bitcoin Mining Operational Update
RNS Number : 0395O
Vinanz Limited
29 September 2023

29 September 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")


Bitcoin Mining Operational Update



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 its Bitcoin ("BTC") miners in Nebraska (USA) and Labrador (Canada) are running at a combined rate of approximately 12 Petahash/second (PH/s).


Total Bitcoin in the Company's combined crypto wallets has risen since the Company listed on the Aquis Stock Exchange in April from 5.01 BTC to 7.84 BTC as at the end of September 2023.


Miner performance and availability have been and remain very high at well over 99%. 


The Company acquired 20 BTC miners (running at a combined 1.6 PH/s) on listing, and these are located in Nebraska in the USA. Vinanz expanded its mining fleet in June when it announced that it had acquired 100 new Bitmain Antminer S19J Pro (104 TH/s) ASIC miners and that these miners were fully operational in Labrador Canada running at a combined processing power of 10.4 PH/s.


(Note: One Petahash/s (PH/s) is one quadrillion (1,000,000,000,000,000) hashes per second. In the context of Bitcoin mining or blockchain, the rate of hashes per second is an important measure of mining performance.)


David Lenigas, Vinanz's Executive Chairman, said:


"I'm very pleased to report that our new Bitcoin miners that we installed in Labrador (Canada) are running sublimely and our data centre hosts are performing an excellent service in maintaining and running our miners there. This second installation outside of our initial Nebraska Bitcoin cluster validates the Company's business model of outsourcing the hosting of our miners. Blocklabs have done an incredible job for us in Labrador, and we are investigating installing further miners with them in Canada in the future, especially considering they have excellent power rates from their hydro electricity supplier. Vinanz does not intend to own its own data centres and be burdened with daily costs and administration of running them. Our model is to have professional data centre companies install, maintain, and run our miners for us for fixed monthly costs and put the mined BTC straight into our encrypted wallets. This model is the one that works for us and allows us to deploy all the cash we mine and raise towards spinning miners for more BTC and not betting on real estate. Now that we are comfortable with our initial investment and operational BTC mining model, the board is reviewing how best to expand the mining fleet."


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


The directors of Vinanz Limited accept responsibility for this announcement.


For further information please contact:


Vinanz Limited

David Lenigas                            

Jeremy Edelman                        


First Sentinel (Corporate Adviser and Broker)

Brian Stockbridge                      

                                                            +44 (0) 20 3855 5551


Clear Capital Markets (Broker)

Bob Roberts                               

                                                            +44 (0) 20 3869 6080


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