3rd Jul 2025 15:49
(Alliance News) - Vinanz Ltd on Thursday changed its name to London BTC Co Ltd, as it and growing list of other London listings seek to channel investor interest in bitcoin and other crypto currencies.
London BTC said it is "doubling down" on its bitcoin treasury strategy, whereby an operating company invests up to half its cash reserves into bitcoin and conducts equity raises specifically for that purpose.
As Vinanz, London BTC Co on Tuesday had said it raised GBP1 million from retail investors, selling 5.4 million new shares at 18.5 pence per share. On Friday last week, the London Main Market listing said it bought 5.85 bitcoin and now has 65.03, bought at an average price of USD98,212 and worth GBP6.4 million at that price.
It said it plans to buy more. BTC stands for bitcoin.
"At the London BTC Co we're doubling down on our mission to provide investors with clean, direct and amplified exposure to bitcoin investing - all through a fully regulated, London Stock Exchange main board listed company, on the world's most historic and one of the world's most respected stock exchanges," said Chief Executive Officer Hewie Rattray.
"We're building the playbook for bitcoin capital markets in London."
London BTC Co shares were down 6.5% to 18.70p on Thursday afternoon, though they remain up 36% over the past month.
Also on Thursday, Mendell Helium PLC set out its own bitcoin treasury strategy. The in-real-life mining company said it will invest up to 50% of free cash flows from helium production to acquire bitcoin. It also may start bitcoin mining. However, Mendell said it won't engage in "speculative or leveraged" trading of bitcoin.
Mendell shares were quoted at 2.00p on Aquis Stock Exchange on Thursday afternoon, having traded as high as 2.50p earlier in the day.
Another actual miner, Hamak Gold Ltd, on Thursday said it raised GBP2.5 million from the sale of 308.4 million new shares at 0.8p. The London Main Market listing explores for gold in Africa, but now also is pursuing a crypto-currency treasury management policy.
The fresh funds will be used for both purposes, said Nick Thurlow, the company's newly installed executive chair: "Firstly, maximising our existing gold exploration and development opportunities and secondly, seizing the transformative opportunity as a Main Market-listed company to lead the UK in bitcoin treasury management."
Hamak Gold shares were down 5.7% to 1.04p on Thursday. They have more than doubled over the past month.
AQSE-listed Vault Ventures PLC on Wednesday said it raised GBP1.0 million from the placing of 5.00 billion new shares at 0.02p. The blockchain, AI and augmented reality technology company said it will invest 80% of the proceeds of the raise into crypto, split between ethereum, solana and bitcoin.
Vault Ventures was quoted at 0.019p on Thursday, having last traded on Wednesday at 0.024p.
Meanwhile, TruSpine Technologies PLC, a medical device maker, said it has engaged fintech advisory firm Alnistar Ltd to support its own implementation of a bitcoin treasury policy.
TruSpine was quoted on AQSE at 1.60p on Thursday, more than triple from 0.40p a month ago.
By Tom Waite, Alliance News editor
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