Vinanz Limited - Vinanz Acquires 171 Additional Bitcoin Miners
Announcement provided byVinanz Limited · BTC
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" or "the Company")
Vinanz Acquires 171 Additional Bitcoin Miners in
Vinanz Limited (London AQSE: BTC and US OTCQB: VINZF), the
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 25th 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
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."
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.
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