Vinanz Limited - Bitcoin miners speed increased by over 10%
Announcement provided byVinanz Limited · BTC
23 January 2024
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 increases speed of Bitcoin miners by more than 10%
Vinanz Limited (London AQSE: BTC and US OTCQB: VINZF), the
BlockLAB have informed Vinanz that it has over-clocked the first 18 Bitcoin mining units by 50 Mhz each seeing an overall gain of about 240 TH/s (Terahash/second), which is an increase of an average 13 TH/s per miner or just over 10%.
BlockLAB, who host 270 of Vinanz's Bitcoin miners, will now continue to progressively roll-out the over-clocking on all of these units in their facility.
On 20 November, Vinanz announced that it had signed a strategic partnership with US-based Luxor Technology Corporation ("Luxor Technology") to increase Vinanz Limited's Bitcoin miner's operational efficiencies, mining hashrate, and operating margins on its North American mining fleet.
Vinanz and Luxor Technology agreed to deploy Luxor's Firmware on Vinanz's Bitcoin mining fleet within the US and
Luxor Firmware is a type of software that unlocks the capabilities of Bitcoin mining hardware, allowing Bitcoin miners to access advanced settings, monitoring, and management tools that enable Bitcoin mining companies to optimise their ASIC miner fleet. When Bitcoin mining profitability is low, Luxor's Firmware improves mining hardware efficiency to increase margins. When profitability is high, miners can use firmware to increase a machine's hashrate and accelerate return on investment.
David Lenigas, Vinanz's Chairman, commented.
"To see an increase in processing speed of over 10% in our Canadian based Bitcoin mining fleet, as we roll-out the Luxor Firmware, is very impressive indeed. As we roll out this software to over-clock all of our 270 miners in
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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