REG - Vinanz Limited - Expansion Plan For Nebraska and Texas Mining Fleet

VinanzAnnouncement

15/01/2025 07:00

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RNS Number : 3271T  Vinanz Limited  15 January 2025

15 January 2025

 

THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR
OTHERWISE ACQUIRE SHARES IN VINANZ LIMITED IN ANY JURISDICTION IN WHICH ANY
SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

 

 

 

Vinanz Limited

("Vinanz" or "the Company")

 

 Expansion Plans for Nebraska and Texas Bitcoin Mining Fleet

 

London, New York, January 15, 2025, Vinanz Limited (LSE: BTC in London and US
OTCQB: VINZF), the London Stock Exchange listed Bitcoin mining company with US
and Canadian Bitcoin mining operations, is pleased to announce it has signed a
purchase order to increase its Nebraska US Bitcoin mining fleet to 100 miners
and its plans to expand in Texas.

 

Following the Company's successful listing of its shares on the London Stock
Exchange ("LSE") on Monday the 13 January 2025, Vinanz continues its push
ahead with expanding its Bitcoin mining operations in the USA and Canada,
where it currently has clusters of Bitcoin miners operating in third-party
hosting facilities in Nebraska, Indiana, Iowa in the USA and in Labrador
(Canada).

 

Vinanz has ordered another 34 Antimer S19k Pro (120 TH) Bitcoin miners from
our Nebraska hosting partner Basic Mining that are already on-line, which will
take the total combined Nebraska fleet to 100 miners. Basic Mining advised
that, under the terms of their hosting agreement (which includes power costs)
and at a Bitcoin price of $94,987, the operating margins on these S19K's are
30.9%.  The Company plans to continue to expand its fleet in Nebraska as the
opportunities arise.

 

With respect to Texas, Vinanz has also agreed with Basic Mining to initiate
orders to trial the new high spec and highly efficient 390 TH Whatsminer M63s
Hydro miners at their hosting facility in Victoria in southern Texas. These
new miners are the latest in Bitcoin mining technology with power consumption
of 7.2 kilowatts and efficiencies of 18.5 joules/TH and under their hosting
contract terms, the operating margins on these miners, when installed and
hashing, are 43.3% at BTC price of $94,994.

 

David Lenigas, Chairman of Vinanz, commented:

 

"Now that we have completed the prospectus to admit to the LSE and we have
migrated the Company's prime listing to the LSE on Monday, we can crack on
again with our plans to grow our Bitcoin mining fleet. We know from our
expansion of our mining fleets in North America in the past 20 months that our
growth model is highly scalable and can be done organically with revenues
generated from mining operations and can be accelerated even further with
injections of fresh capital into the Company. These new orders for miners for
Nebraska and Texas kick off our 2025 expansion program. We are particularly
excited to be ushering in these new 390 TH Whatsminer Hydro miners (water
cooled) as these are cutting edge, fast and highly efficient and we always aim
as a Company to roll-out the latest technology as we expand our network of
miners."

 

"Vinanz's prime mission is to build a substantial Bitcoin holding through
building up and continuously modernising its North American Bitcoin mining
fleet for a future where we anticipate seeing a Bitcoin price far in excess of
what we see today.  We look forward to updating shareholders through 2025 and
are very optimistic that the incoming US Administration could prove to be
pivotal for the overall acceptability of Bitcoin as a recognised investment
asset."

 

The directors of Vinanz Limited accept responsibility for this announcement.

 

For further information please contact:

 

Vinanz Limited

David
Lenigas
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

About Vinanz Limited

 

Vinanz's primary listing is in London (United Kingdom) on the London Stock
Exchange under the ticker BTC and trades in the USA on the US OTCQB under the
ticker VINZF. Vinanz is building up a strategic Bitcoin holding by building a
Bitcoin mining company installing miners within hosting facilities throughout
the USA and Canada through third-party cryptocurrency mining providers.
Currently, Vinanz operates Bitcoin miners in Indiana, Iowa, Nebraska and Texas
in the USA and in Labrador (Canada).

 

 

 

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