01 February 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
Limited
("Vinanz"
or "the Company")
Vinanz to Diversify into
Alternative Cryptocurrencies
Vinanz Limited (London AQSE:
BTC and US OTCQB: VINZF), the innovative
London-listed company known for its strategic Bitcoin mining
operations across the US and Canada, is pleased to announce that it
will start using a proportion of its Bitcoin generated from its
mining operation on North America to diversify into the broader
cryptocurrency market.
In a bold move to capitalise on the
evolving digital asset landscape, Vinanz has decided to allocate a
portion of its Bitcoin holdings into alternative cryptocurrency
ecosystems focusing initially on Solana, Ethereum, and Cosmos. This
diversification strategy is designed to enhance the Company's
exposure to the burgeoning crypto market, leveraging the unique
opportunities presented by staking, yielding, airdrop farming and
venture investments on these highly advanced
blockchains.
With the US SEC's acceptance of spot
Bitcoin ETF's in recent weeks, Vinanz sees the emergence of these
alternative blockchain ecosystems as an emerging globally accepted
asset class and wants to create a vehicle that has strong exposure
to these markets over time, a vehicle that could be potential
listed on a stock exchange once it has gained enough
size.
Solana, known for its high
throughput and low transaction fees, offers an attractive ecosystem
for developing decentralized applications (dApps). Ethereum's
upcoming upgrades and its dominant position as a smart contract
platform will make it a valuable addition to our portfolio. Cosmos,
with its interoperability protocol, presents a unique opportunity
to invest in the future of blockchain connectivity.
This diversification strategy is not
just an expansion into new cryptocurrencies but a calculated
approach to maximize returns through active participation in
staking and yield-generating activities within these ecosystems.
This not only diversifies the Company's investment portfolio but
also aligns with our long-term vision to be at the forefront of
blockchain innovation and adoption.
David Lenigas, Chairman of Vinanz, expressed enthusiasm about
the new direction, stating;
"Investing a proportion of
our hard earned Bitcoin into Solana, Ethereum, and Cosmos, along
with other cutting-edge blockchains, makes sense with the big
financial institutions finally recognising certain cryptocurrencies
as a new and acceptable asset class and this diversification opens
a gateway to a realm of unparalleled investment
opportunities.
"We see some of the
alternative cryptocurrencies gaining real traction through 2024 and
an investment into these right now could potentially add real value
to Vinanz's balance sheet. This strategic expansion goes beyond
mere diversification; it's an embrace of the vibrant and dynamic
possibilities that these technologies bring to the table. Our
active participation in staking and yielding within these
ecosystems is a testament to our dedication to capturing the most
exciting opportunities in the blockchain space. We're not just
broadening our portfolio; we also aim to secure our stakeholders a
front-row seat to the future of finance and technology, and
remarkable prospects for growth and innovation."
The Company is committed to
providing regular updates on this new venture and its impact on our
overall investment strategy and returns.
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.
For further information please
contact: