Expansion Plan For Nebraska and Texas Mining Fleet
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
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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