TIDMBTC
RNS Number : 8749S
Vinanz Limited
09 November 2023
9 November 2023
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 Triple Bitcoin Miners in North America
and GBP350,000 Placing at 3 pence per Share
Vinanz Limited (London AQSE: BTC and US OTCQB: VINZF), the
London listed Bitcoin mining company focusing on decentralised
deployment of Bitcoin mining clusters in multiple data facilities
throughout the US and Canada, is pleased to announce that it has
raised GBP350,000 (gross) at 3.0 pence per share, representing a
premium of 4.35% to the closing mid-price of 2.875 pence per share
on 8 November 2023, and will be used primarily to acquire 250
additional bitcoin miners which will approximately triple the
Company's current Bitcoin mining fleet in North America.
Vinanz is working with its preferred supplier of miners in the
North America to have these new units installed and spinning well
before the end of 2023.
These planned 250 new miners to be acquired will be Bitmain
Antminer SJ19 Pro ASIC miners (rated at 10.4 Terrahash/second) (or
equivalent) and will increase Vinanz's computers spinning from 120
to 370 and an increase in the Company's overall processing rate to
around 38 Petahash/second ("PH/s") from 12 PH/s, an approximate
tripling of Vinanz's current processing power.
The cost to acquire and install the planned 250 ASIC miners will
be completely covered from the proceeds of this placing. Vinanz is
again looking to install the new hardware in Canada data centre,
where energy is primarily generated from GREEN HYDRO.
David Lenigas, Vinanz's Executive Chairman, said:
"With the next Bitcoin halving fast approaching and the
institutional ETFs in the USA moving through their applications
with the US SEC, the board of Vinanz thought it highly prudent to
dramatically increase the number of spinning Bitcoin miners in
North America as soon as possible. Adding another 250 Antminers to
our spinning fleet in the coming weeks achieves this."
Raising fresh equity now to increase the mining fleet puts the
Company into a very solid financial position going forward.
Increasing our mining fleet to 370 machines in the coming weeks
should see a new Bitcoin generated to our wallet around every 10
days or so and generate over US$1.2million of value in our wallet
per year (assuming today's Bitcoin price of US$35,000). We are
building a Bitcoin mining business that gives shareholders
considerable upside leverage for an expected rise in the Bitcoin
price as Bitcoin becomes more mainstream in global finance markets
and towards and beyond the next halving."
"Our model of building out decentralised mining clusters through
third-party data centres in North America without owning the
infrastructure is one that the board is hard wired into. We have
very few corporate costs, we don't have to or want to pay for
expensive infrastructure, and we feel the decentralised cluster
approach de-risks our roll-out strategy and makes our business
model highly scalable."
Placing and Total Voting Rights
A placing agreement was entered into by the Company and Clear
Capital Markets ("CCM") on 8 November 2023 to raise gross proceeds
of GBP350,000 through the placing of 11,666,667 new Ordinary Shares
("Placing Shares") at a price of 3.0 pence per share ("Placing
Price"). The Placing Price represents a premium of 4.35% to the
closing mid-price of 2.875 pence per share on 8 November 2023.
Application will be made to the Aquis Stock Exchange for
admission of the 11,666,667 Placing Shares to trading on Aquis. It
is expected that admission will become effective and dealings in
the Placing Shares will commence on Aquis at 8.00 a.m. on or before
the 23 November 2023 (or such later date as may be agreed between
the Company and the CCM).
The Placing Shares will be issued fully paid and will rank pari
passu in all respects with the Company's existing Ordinary
Shares.
Following Admission, the total number of Ordinary Shares in the
capital of the Company on issue will be 128,158,506 with voting
rights. This figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company's issued share capital pursuant to the Company's
Articles.
History of Vinanz's Bitcoin Miner Rollout in North America
2023:
The Company acquired 20 BTC miners (running at a combined 1.6
PH/s) on listing in April 2023, and these are located in Nebraska
in the USA. Vinanz then expanded its mining fleet in June when it
announced that it had acquired 100 new Bitmain Antminer S19J Pro
(104 TH/s) ASIC miners and that these miners were fully operational
in Labrador Canada running at a combined processing power of 10.4
PH/s. These 250 new Antminers announced today will increase
Vinanz's processing power to around 36 PH/s when installed in the
coming weeks.
About Vinanz
Vinanz is listed on the London Aquis markets and 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 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:
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 3989 2222
Clear Capital Markets (Broker)
Bob Roberts bobroberts@clear-cm.co.uk
+44 (0) 20 3869 6080
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END
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November 09, 2023 02:00 ET (07:00 GMT)
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