19th Feb 2025 07:00
19 February 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")
(BTC:LN in London and VINZF:US)
First USA Made Bitcoin Miners for Vinanz to be Hosted in Expanded Indiana Deal for New Miner Slots
London, New York, February 19, 2025, Vinanz Limited; the London Stock Exchange Main Board Listed Bitcoin mining company with US and Canadian Bitcoin mining operations, announces that it has ordered its first ever USA made Bitcoin miners - manufactured and supplied by California based Auradine Inc.
The initial trial order of 20 Auradine AT2880 (220TH and 17.5 J/TH efficiency) miners will be installed at our Indiana hosts facilities in the coming weeks and our hosts there advise that they will have an estimated operating Bitcoin breakeven price of around $53,000 (based on our contracted 7.5 cents per kWh electricity price).
As Vinanz mines Bitcoin exclusively in North America, with miners currently hashing in Nebraska, Iowa, Indiana and Texas and Goose Bay in Labrador in Canada, it is important for us to buy American made if there was a viable and competitive ASIC miner supplier.
Megawatt, our host in Indiana, have advised that these Auradine miners are excellent performers, and their operating parameters and operating costs are as good as Chinese made miners. With the US Government poised to apply tariffs on all US imports it made perfect sense for the Company to buy these high performance Auradine AT2880s.
Previous miners purchased by Vinanz for its US growth plans have all originated from China with its fleets of various types of Bitmain, Whatsminer and Canaan miners.
Indiana Bitcoin Fleet Expansion Plans
Back in July 2024, the Company announced that it was trialing its first miners with Megawatt, when they hosted an initial installation for 20 Bitmain Antminer SJ19 Pro Bitcoin miners.
This trial has gone very well and Vinanz has now signed an agreement with Megawatt under which the Company will add 20 additional miners, alongside the miners already hashing at Megawatt and the 20 Auradine AT2880 announced today. Additionally, the Company will have the exclusive right to host an additional 41 miners, which, if added, will increase Vinanz's total miners at Megawatt's Indiana location to 101 miners and reduce the overall power price to US$0.07 per kWh.
These new Auradine AT2880 miners, when installed alongside another 20 miners to be ordered soon, will take our overall power price to US$0.075 per kWh across the fleet at Megawatt.
David Lenigas, Chairman of Vinanz, commented:
"We are excited to be buying our first USA made miners for Vinanz's expansion plans for North America and our plans to expand our mining fleet in Indiana. These miners are energy efficient and have a Bitcoin breakeven operating price of circa $53,000, we are keen to see them hashing in the coming weeks. If they perform as they say on the box, we will look at adding more of these USA made miners going forward to show our support for backing the US economy and our businesses there."
"Megawatt have been a fantastic hosting partner for us since we started the trial in Indiana with them back in July last year and we now intend to put in place a plan that sees us going to over 100 miners with them in the coming months and many more over the course of this year. We are also looking at expanding our miner roll-out in Iowa, Nebraska and Texas in the coming months."
The directors of Vinanz Limited accept responsibility for this announcement.
For further information please contact:
Vinanz Limited
David Lenigas [email protected]
Jeremy Edelman [email protected]
First Sentinel (Corporate Adviser)
Brian Stockbridge [email protected]
+44 (0) 20 3855 5551
Clear Capital Markets (Broker)
Bob Roberts [email protected]
+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).