REG - Vinanz Limited - New Bitcoin Miners and Indiana Expansion Plan

VinanzAnnouncement

19/02/2025 07:00

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RNS Number : 5915X  Vinanz Limited  19 February 2025

19 February 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")

(BTC:LN in London and VINZF:US)

 

 First USA Made Bitcoin Miners for Vinanz to be Hosted in Expanded Indiana
Deal for New Miner Slots

 

London, New York, February 19, 2025, Vinanz Limited; the London Stock Exchange
Main Board Listed Bitcoin mining company with US and Canadian Bitcoin mining
operations, announces that it has ordered its first ever USA made Bitcoin
miners - manufactured and supplied by California based Auradine Inc.

 

The initial trial order of 20 Auradine AT2880 (220TH and 17.5 J/TH efficiency)
miners will be installed at our Indiana hosts facilities in the coming weeks
and our hosts there advise that they will have an estimated operating Bitcoin
breakeven price of around $53,000 (based on our contracted 7.5 cents per kWh
electricity price).

 

As Vinanz mines Bitcoin exclusively in North America, with miners currently
hashing in Nebraska, Iowa, Indiana and Texas and Goose Bay in Labrador in
Canada, it is important for us to buy American made if there was a viable and
competitive ASIC miner supplier.

 

Megawatt, our host in Indiana, have advised that these Auradine miners are
excellent performers, and their operating parameters and operating costs are
as good as Chinese made miners. With the US Government poised to apply tariffs
on all US imports it made perfect sense for the Company to buy these high
performance Auradine AT2880s.

 

Previous miners purchased by Vinanz for its US growth plans have all
originated from China with its fleets of various types of Bitmain, Whatsminer
and Canaan miners.

 

Indiana Bitcoin Fleet Expansion Plans

 

Back in July 2024, the Company announced that it was trialing its first miners
with Megawatt, when they hosted an initial installation for 20 Bitmain
Antminer SJ19 Pro Bitcoin miners.

 

This trial has gone very well and Vinanz has now signed an agreement with
Megawatt under which the Company will add 20 additional miners, alongside the
miners already hashing at Megawatt and the 20 Auradine AT2880 announced today.
Additionally, the Company will have the exclusive right to host an additional
41 miners, which, if added, will increase Vinanz's total miners at Megawatt's
Indiana location to 101 miners and reduce the overall power price to US$0.07
per kWh.

 

These new Auradine AT2880 miners, when installed alongside another 20 miners
to be ordered soon, will take our overall power price to US$0.075 per kWh
across the fleet at Megawatt.

 

David Lenigas, Chairman of Vinanz, commented:

 

"We are excited to be buying our first USA made miners for Vinanz's expansion
plans for North America and our plans to expand our mining fleet in Indiana.
These miners are energy efficient and have a Bitcoin breakeven operating price
of circa $53,000, we are keen to see them hashing in the coming weeks. If they
perform as they say on the box, we will look at adding more of these USA made
miners going forward to show our support for backing the US economy and our
businesses there."

 

"Megawatt have been a fantastic hosting partner for us since we started the
trial in Indiana with them back in July last year and we now intend to put in
place a plan that sees us going to over 100 miners with them in the coming
months and many more over the course of this year. We are also looking at
expanding our miner roll-out in Iowa, Nebraska and Texas in the coming
months."

 

The directors of Vinanz Limited accept responsibility for this announcement.

 

For further information please contact:

 

Vinanz Limited

David
Lenigas
david@vinanz.co.uk

Jeremy
Edelman
jeremy@vinanz.co.uk

 

First Sentinel (Corporate Adviser)

Brian Stockbridge
brian@first-sentinel.com

 
+44 (0) 20 3855 5551

 

Clear Capital Markets (Broker)

Bob
Roberts
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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