Vinanz Limited Vinanz Expands Iowa Bitcoin Mining Activities

RNS Number : 8549R

Vinanz Limited

11 June 2024

 

11 June 2024

 

 

Vinanz Limited

 

Vinanz Expands Iowa Bitcoin Mining Activities

 

 

London, New York, 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 the first of its Iowa based SJ19J Pro+ (120TH) are now hashing and running at a combined hashrate 2 Petahash/sec ("PH/s"). We anticipate that these initial 20 units will gear up to around 2.5 PH/s in the coming week when all miners are live.

 

The Company now plans to build out the numbers of bitcoin miners in this Iowa bitcoin mining cluster at Mining Store's (www.miningstore.com) facilities in central Iowa and has ordered from Luxor Technology 40 more SJ19 Pro+ miners. The miners are expected to be on-site in Iowa in the coming weeks. When connected our Iowa bitcoin cluster hashrate is expected to increase to around 7.2 Petahash/second.

 

David Lenigas, Vinanz's Chairman, commented;

 

"The team at Mining Store have done a great job receiving, installing and connecting the first batch of our S19's for Iowa install. In a few weeks, we will have built the Iowa bitcoin cluster from nothing to 60 machines hashing at over 7 Petahash/sec. Vinanz's business model is to roll out decentralized clusters of bitcoin miners throughout North America in third-party hosting centers. Iowa is the next phase of rolling out this business expansion model. Diversification and decentralistion is the cornerstone defence strategy in de-risking our hardware rollout."

 

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                                      [e-mail]

Jeremy Edelman                                  [e-mail]

 

First Sentinel (Corporate Adviser and Broker)

Brian Stockbridge                                [e-mail]

                                                            [phone]

 

Clear Capital Markets (Broker)

Bob Roberts                                         [e-mail]

                                                            [phone]

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END

 

 

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