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| Date | 30 May 2024 |
| Time | 09:57:36 |
| Category | Miscellaneous |
| ID | 4564Q |
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 [email protected]
Jeremy Edelman [email protected]
First Sentinel (Corporate Adviser and Broker)
Brian Stockbridge [email protected]
+44 (0) 20 3855 5551
Clear Capital Markets (Broker)
Bob Roberts [email protected]
+44 (0) 20 3869 6080