Update: Venice Infrastructure Operations
Summary by AI BETAClose X
KR1 plc
Thursday, 12 November 2026
KR1 plc (“KR1” or the “Company”)
Update: Venice Infrastructure Operations
KR1 plc (LSE: KR1), a London Stock Exchange-listed onchain infrastructure company, is pleased to provide an update on its Venice (“VVV”) operations.
Following its October Infrastructure Income & Holdings update, in which it reported holding 276,223 VVV valued at £5.77 million as at 30 September 2026, the Company has fully staked its current holding of 275,000 VVV, earning rewards in VVV at an indicative annualised staking rate of approximately 5.74% as at 11 November 2026. Based on available disclosures, the Company believes it is the largest publicly listed holder of VVV, with approximately 0.56% of the circulating supply, a position that reflects its conviction in the convergence of AI and crypto.
Venice is a core holding within KR1’s Technology Infrastructure Strategy. In its Introducing Decentralised AI announcement on 14 May 2026, the Company disclosed an initial holding of 60,000 VVV and the commencement of staking operations. KR1 has since increased its position. Founded by renowned crypto entrepreneur Erik Voorhees, Venice provides access to frontier and open-source AI models for generating text, code, images, video and audio. The platform is designed around privacy, model choice and user control.
Venice’s adoption continues to accelerate. Its October community update reported 5 million users, with the increase from 4 million taking 68 days. Daily inference volume exceeded one trillion tokens during October, compared with approximately 250 billion at the end of September.
On 14 October, Venice’s Erik Voorhees reported annual revenue exceeding US$150 million. In July, Venice also announced a US$65 million Series A led by Dragonfly, at a stated US$1 billion valuation, to expand its consumer platform and API business.
KR1 puts its Venice assets to productive use in two ways. First, the Company stakes VVV to generate infrastructure income in the form of newly issued VVV tokens. Reward rates vary, and standard VVV unstaking is subject to a seven-day cooldown. The second route uses DIEM, a token that holders can mint by locking staked VVV. KR1 acquired its DIEM separately and stakes it to access daily credits for AI inference on Venice. KR1 makes that inference capacity available to customers through third-party marketplaces.
Venice’s buy-and-burn programme creates a further connection between commercial adoption and VVV. The platform allocates 5% of API credit purchases to buying VVV on the open market and permanently removing it from supply. New Pro, Pro+ and Max subscriptions trigger purchases and burns of US$2, US$5 and US$10, respectively, alongside discretionary burns.
Venice reported that the value of VVV burned during October had exceeded US$1 million by 28 October. Revenue-funded purchases create demand for VVV, while burns reduce VVV supply relative to continuing issuance. This mechanism is separate from staking rewards and does not constitute a cash distribution to token holders.
Keld van Schreven, Managing Director and Co-Founder of KR1 plc, commented:
“We believe the convergence of AI and crypto could be one of the defining technology themes of the next decade. We put that conviction to work through our Venice operations, staking VVV to earn infrastructure income while retaining exposure to the platform’s growth. We can use those rewards to fund operations or reinvest them in productive assets. That reinvestment drives the KR1 flywheel, helping grow the earning capacity behind each KR1 equity share.”
About KR1 plc
KR1 plc owns and operates productive digital assets across the networks powering the convergence of AI and crypto. As the only dedicated onchain infrastructure company listed on the Main Market of the London Stock Exchange, KR1 draws on a decade of domain expertise to take a high-conviction, thesis-driven approach to its holdings, targeting a dual return profile: infrastructure income and capital appreciation.
Contact
For further information, please contact:
KR1 plc (LSE: KR1)
George McDonaugh, Keld van Schreven
Phone: +44 (0)1624 630 630
Email: investors@KR1.io
Singer Capital Markets (Corporate Broker and Financial Adviser)
Investment Banking: Alex Bond, James Fischer
Equity Sales: William Gumpel
Phone: +44 (0)20 7496 3000
Email: enquiries@singercm.com
SEC Newgate (PR, Media and Financial Communications Adviser)
Ian Silvera, Bob Huxford, Dafydd Rees
Phone: +44 (0)20 3757 6882
Email: KR1@secnewgate.co.uk
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