30 May 2024
Vinanz
Limited
Vinanz's US Bitcoin Mining
Operations Expand into Iowa
London, New York, May 30, 2024, Vinanz Limited
(US OTCQB: VINZF and AQSE: BTC in London)
("Vinanz" or "the Company"), the publicly
listed Bitcoin mining company with US and
Canadian Bitcoin mining operations,
announces that it will launch a new Bitcoin Mining Centre in the
USA in the State of Iowa.
Vinanz has placed a starter order
for 20 Bitmain Antminer S19J Pro+ 120 TH bitcoin miners to be
deployed into one of Mining Store's (www.miningstore.com)
nine facilities in central Iowa. Vinanz intends to expand the
operational miners in this new US BTC cluster, once the units have
been operational for a period and the Company has had the necessary
time to properly assess installation procedures, hosting facilities
uptime performance and general connectivity.
The Company has ordered these ASIC
miners through our preferred North American Bitcoin hardware
supplier, Luxor Technology (www.luxor.tech)
and are working closely with them to having these units spinning
within the coming weeks in Iowa. These miners will be connected to
the Luxor Bitcoin Mining Pool and will be programed with the latest
LUXOR OS Firmware, which will allow each miner to be optimised
remotely from time to time, depending on power costs and bitcoin
pricing, to help keep Vinanz as a low-cost Bitcoin
producer.
David Lenigas, Vinanz's
Chairman, commented; "Our next move into deploying bitcoin miners
into the US is in Iowa. In the past week we have arranged to secure
an initial supply of 120 Terrahash machines for delivery to Iowa
next week, and last night we signed hosting agreements with Mining
Store. We like what Mining Store have to offer in terms of
expansion potential and their hosting prices are aligned with our
economic modelling. Also, around 85% of their electricity is coming
from renewable sources in Iowa, which is important to us. The
electricity price we have secured to launch this BTC cluster, at 7
cents per kilowatt hour, is very competitive and puts the Company
in an excellent position going forward as we expand our presence
there."
About Vinanz Limited
Vinanz's primary listing is in
London (United Kingdom) on the Aquis Exchange under the ticker BTC
and trades in the USA on the US OTCQB under the ticker VINZF.
Vinanz is a British Virgin Island domiciled company that is
building out a fully-fledged Bitcoin mining company initially
focusing on installing clusters of Bitcoin miners within multiple
facilities throughout the US and Canada through third-party
cryptocurrency mining providers. Whilst the Company will focus
initially on BTC mining, it will also consider the mining of other
cryptocurrencies, and operations in the DeFi and Big Data space in
the future. The Company intends to be able to provide a listed UK
platform to offer entry to the technology and cryptocurrency
business.
The directors of Vinanz Limited
accept responsibility for this announcement.
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.
CONTACTS:
For further information please
contact:
Vinanz Limited
David
Lenigas
david@vinanz.co.uk
Jeremy
Edelman
jeremy@vinanz.co.uk
First Sentinel (Corporate Adviser and
Broker)
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