REG - Vinanz Limited - Publication of Annual Report

London BTCAnnouncement

25/06/2025 17:00

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RNS Number : 2629O  Vinanz Limited  25 June 2025

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.

 

25 June 2025

 

 

Vinanz Limited

 

("Vinanz" or "the Company")

 

Publication of Annual Report

Vinanz Limited (BTC:L), the London Stock Exchange Main Market-listed Bitcoin
treasury company with active mining operations across the United States and
Canada, announces the publication of its audited Annual Report and Financial
Statements for the 18 months ended 28 February 2025.

The full Annual Report and Financial Statements will be available on the
Company's website https://vinanz.co.uk/financial-reports/
(https://vinanz.co.uk/financial-reports/) .

For further information, please contact:

 

Vinanz Limited

Hewie Rattray, CEO
hewie@vinanz.co.uk (mailto:hewie@vinanz.co.uk)

David Lenigas, Chairman                david@vinanz.co.uk
(mailto:david@vinanz.co.uk)

Jeremy Edelman
jeremy@vinanz.co.uk (mailto:jeremy@vinanz.co.uk)

 

First Sentinel (Corporate Adviser)

Brian Stockbridge
brian@first-sentinel.com (mailto:brian@first-sentinel.com)

 
+44 (0) 20 3855 5551

 

Clear Capital Markets (Broker)

Bob
Roberts
bobroberts@clear-cm.co.uk (mailto:bobroberts@clear-cm.co.uk)

 
+44 (0) 20 3869 6080

 
Chairman's report

Vinanz Limited ("the Group") was incorporated in the British Virgin Islands on
27 August 2021 with registered number 2073995. The Group's Ordinary Shares
were admitted to trading on the Access Segment of the Aquis Stock Exchange
Growth Market on 21 April 2023 pursuant to its admission document dated 13
April 2023 and then transferred and admitted to the Official List (by way of a
listing in the Transition Category) of the FCA and to trading on the main
market ("Main Market") for listed securities of the London Stock Exchange
("LSE") on 13 January 2025.

 

The last financial period was a pivotal year in our Group's evolution, as we
strategically reposition ourselves to become a

leader in the Bitcoin mining and treasury space.

In 2024, we took decisive action to align our identity, operations, and
capital strategy with our core conviction: Bitcoin represents one of the most
profound technological and monetary transformations of our time, and the Group
is purpose-built to capture long-term value from this shift.

 

Moving from the London Aquis Exchange to the London Stock Exchange Main Board
in January of this year was groundbreaking and to be given the LSE ticker of
"BTC.L" will become significant.

Our dual mandate is clear and deliberate: to mine as much Bitcoin in North
America as profitably as possible, and to acquire and hold Bitcoin in treasury
as a strategic asset for long-term appreciation, as Bitcoin is seen by the
Group as a store of wealth and compliments our fiat currency holdings. Bitcoin
is our preferred currency, and our plans are to be over-weight Bitcoin versus
other currencies. This focused strategy underpins every decision we make, and
it is the lens through which we assess operational performance, capital
allocation, and growth planning.

 

This financial period was a pivotal and transformative year for the Group. In
the months following our financial period-end, we undertook several
post-period strategic initiatives that underscore our commitment to our
Bitcoin-focused model:

 

•     Corporate Rebranding: Our intention to change the name to The
London BTC Group Limited was more than symbolic-it was a definitive statement
of purpose. It reflects our sharpened identity and commitment to becoming one
of the UK's premier publicly traded vehicles for direct Bitcoin exposure
through mining and treasury holdings. We will often be trading under the
banner of the London Bitcoin Group.

•    The Group has secured the services of investment advisory and
brokerage professionals in New York, namely Dominari Securities LLC who are
advising the Group on both its potential Nasdaq listing and capital raising.
The Group believes that North America will provide both capital and liquidity
for the Group stock.

•     US$4 Million Loan Facility: Of the $4 million secured, we
prudently deployed $2 million to acquire our first Bitcoin directly into
treasury. This strategic move not only strengthened our balance sheet with a
hard-capped, highly liquid digital asset but also demonstrated our tactical
agility in capitalizing on attractive entry points in the market.

•     £3.6 Million Equity Raise: Successfully completed post year-end,
this capital infusion further enhances our financial flexibility. The proceeds
are earmarked to expand mining infrastructure, increase our hash rate
capacity, and dramatically expanding our Bitcoin currency reserves-all in line
with our disciplined growth roadmap.

Mining Operations: Efficiency, Expansion, and Scale

 

•     Our North American Bitcoin mining operations serve as the
foundation of our revenue-generating engine. In 2024, we laid the groundwork
for scaling operations with a clear emphasis on efficiency and profitability:

•     Operational Improvements: We initiated upgrades to our mining
fleet, targeting newer-generation ASIC units that deliver significantly higher
efficiency per joule of electricity consumed. These investments improve our
cost base and position us to remain profitable across varying bitcoin price
cycles.

•     Capacity Expansion: With infrastructure planning well underway, we
anticipate an increase in installed hash rate capacity through 2025/2026
year-end. We are actively negotiating hosting and energy contracts that offer
both competitive electricity pricing and scalability, giving us optionality to
rapidly deploy additional mining units.

•     Strategic Procurement: Our disciplined approach to hardware
procurement and deployment is designed to maximize return on capital while
maintaining operational flexibility in a fast-moving sector.

Our long-term objective is to continue growing our North American mining
output, ensuring we remain a low-cost producer and a reliable source of
Bitcoin generation, even in volatile markets.

Treasury Strategy: Accumulating Bitcoin with Precision

 

•     Our Bitcoin treasury holdings are a core component of our value
proposition to shareholders, and we expect to rapidly grow this important
component of our business. We do not view Bitcoin as a speculative asset; we
regard it as a long- duration, globally portable store of value with unique
properties unmatched in the traditional financial system in recent times. As
such, we have adopted a deliberate, long-term aggressive accumulation
strategy. This store of Bitcoin in treasury will empower of mining expansion
and provide significant capital to acquire bigger and better ASIC miners.

•   Direct Acquisitions: The use of equity and debt capital to purchase
Bitcoin post-year-end is a strong demonstration of our belief in Bitcoin's
asymmetric upside. We expect to continue allocating capital opportunistically
to expand treasury holdings when market conditions are favourable.

Self-Mined Bitcoin: All Bitcoin mined in excess of operational needs is
retained in treasury unless otherwise strategically deployed with operating
costs or miner purchases. This approach compounds the value of mining
operations by turning mined Bitcoin into an appreciating treasury asset.

As our treasury grows, so does our strategic optionality-be it collateral for
future financing, protection against fiat inflation, or value accrual from
Bitcoin's continued monetization on the global stage. We also signed into
Fidelity Digital Assets to manage and act as custodian of our Bitcoin
treasury.

Market Outlook & Strategic Vision

 

The broader industry tailwinds for Bitcoin adoption, institutional engagement,
and infrastructure investment remain robust. The halving event in 2024 has
increased the scarcity of new bitcoin issuance, which historically has
correlated with stronger price performance in the ensuing quarters leading to
the next halving event. Additionally, regulatory clarity and institutional
adoption are strengthening Bitcoin's position as a mainstream financial asset.

 

Against this backdrop, the Group is well-positioned:

 

•     We offer shareholders direct exposure to Bitcoin via both
productive mining operations and on-balance-sheet holdings.

•     Our leadership team brings a disciplined capital allocation
framework grounded in financial prudence and deep conviction in Bitcoin's
future.

•     Our operations are increasingly optimized for energy efficiency,
cost discipline, and scalability-key differentiators in a highly competitive
mining landscape.

Looking forward, we are focused on responsibly expanding our mining footprint,
aggressively growing our Bitcoin reserves, and deepening our market presence
as a credible and differentiated player in the bitcoin ecosystem.

 

In closing, I want to express my deep gratitude to our shareholders for their
continued trust and support. The opportunity before us is both rare and
profound: to build a Group around the hardest monetary asset ever invented, in
its earliest adoption phase, with a clear, executable strategy for value
creation.

 

The Group is not just mining bitcoin-we are building a durable,
high-conviction business that captures the full spectrum of value Bitcoin has
to offer. Our commitment is unwavering, our strategy is disciplined, and our
ambition is to become a cornerstone institution in the global Bitcoin economy.

 

 

Directors' Responsibility Statement Pursuant to Disclosure and Transparent Rules

Each of the Directors, whose names and functions are listed on page 21 confirm
that, to the best of their knowledge and belief:

 

●  The Financial Statements have been prepared in accordance with
International Financial Reporting Standards (IFRS) and give a true and fair
view of the assets, liabilities, financial position and loss of the Group; and

●     The Annual Report and Financial Statements, including the
Strategy Report, includes a fair review of the development and performance of
the business and the position of the Group, together with a description of the
principal risks and uncertainties that they face.

 

 

 

Statement of profit or loss and other comprehensive income For the period
ended 28 February 2025

 

 

 

 

Statement of financial position As at 28 February 2025

 

 

 

Statement of changes in equity

For the period ended 28 February 2025

 

 

 

Statement of cash flows

For the period ended 28 February 2025

 

 

The full Annual Report and Financial Statements will be available on the
Company's website https://vinanz.co.uk/financial-reports/
(https://vinanz.co.uk/financial-reports/) .

 

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