Vinanz Limited - Vinanz to Triple Bitcoin Miners and Placing
Announcement provided byVinanz Limited · BTC
9 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" or "the Company")
Vinanz to Triple Bitcoin Miners in
Vinanz Limited (London AQSE: BTC and US OTCQB: VINZF), the
Vinanz is working with its preferred supplier of miners in the
These planned 250 new miners to be acquired will be Bitmain Antminer SJ19 Pro ASIC miners (rated at 10.4 Terrahash/second) (or equivalent) and will increase Vinanz's computers spinning from 120 to 370 and an increase in the Company's overall processing rate to around 38 Petahash/second ("PH/s") from 12 PH/s, an approximate tripling of Vinanz's current processing power.
The cost to acquire and install the planned 250 ASIC miners will be completely covered from the proceeds of this placing. Vinanz is again looking to install the new hardware in
David Lenigas, Vinanz's Executive Chairman, said:
"With the next Bitcoin halving fast approaching and the institutional ETFs in the
Raising fresh equity now to increase the mining fleet puts the Company into a very solid financial position going forward. Increasing our mining fleet to 370 machines in the coming weeks should see a new Bitcoin generated to our wallet around every 10 days or so and generate over
"Our model of building out decentralised mining clusters through third-party data centres in
Placing and Total Voting Rights
A placing agreement was entered into by the Company and Clear Capital Markets ("CCM") on 8 November 2023 to raise gross proceeds of
Application will be made to the Aquis Stock Exchange for admission of the 11,666,667 Placing Shares to trading on Aquis. It is expected that admission will become effective and dealings in the Placing Shares will commence on Aquis at 8.00 a.m. on or before the 23 November 2023 (or such later date as may be agreed between the Company and the CCM).
The Placing Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company on issue will be 128,158,506 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.
History of Vinanz's Bitcoin Miner Rollout in
The Company acquired 20 BTC miners (running at a combined 1.6 PH/s) on listing in April 2023, and these are located in
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
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:
David Lenigas firstname.lastname@example.org
Jeremy Edelman email@example.com
First Sentinel (Corporate Adviser and Broker)
Brian Stockbridge firstname.lastname@example.org
+44 (0) 20 3989 2222
Clear Capital Markets (Broker)
Bob Roberts email@example.com
+44 (0) 20 3869 6080