Vinanz Diversifies High Speed Bitcoin Fleet

Vinanz Limited

30 October 2024

 

30 October 2024

Vinanz Limited

Vinanz Diversifies High Speed Bitcoin Fleet in Nebraska

First Canaan Avalon A1566 188 TH Miners Added to North American Fleet

London, New York, October 30, 2024, 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 it has ordered the first non-Bitmain Antminer Bitcoin miners for its North American fleet in a move to diversify its bitcoin miner manufactures as the Company continues with its growth plans.

The Company has ordered an initial batch of ten Canaan Avalon A1566 188 TH Bitcoin miners from our Nebraska hosting partner there Basic Mining (www.basicmining.com) where we already have thirty S19k Pro 120 TH miners and five S21 Pro 234 TH miners operating. These new A1566 188 TH miners have only been released for sale globally this month and are due to arrive in Nebraska within the next two weeks.

Avalon A1566 Miners are the next generation 1xJ/T series product released by Canaan, with an apparent hash rate of 188Th/s, and a target optimised energy efficiency ratio of 18.5J/T, and a power consumption of only 3420W. The A1566 is supposed to deliver a more reliable mining experience, setting a new performance benchmark by improving power efficiency.

Nebraska was the obvious choice to install these new Avalon A1566 188 TH miners due to the power costs of 6.5 cents per kilowatt hour we have secured there through Basic Mining. The addition of these new A1566's in the coming weeks should increase our hashing in Nebraska to a specified combined 6.65 PHs. We will update the market on the A1566's performance once they are operational.

Vinanz operates Bitcoin miners in Nebraska, Texas, Indiana and Iowa and Labrador in north-east Canada.

David Lenigas, Vinanz's Chairman, commented; "In a deliberate effort to keep with Vinanz's business model of being a diversified miner in North America operating our miners in multiple unrelated clusters in multiple US and Canadian States using the latest and best performing miners available on the market, we saw it important to not have all of our miners sourced from Bitmain and the Canaan Avalon A1566 is a great cost and highly efficient new generation 188 TH miner that allows us to actively adapt to the "post-halving" period and further improve profitability and risk resistance."

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 (BVI) 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. Currently, Vinanz operates Bitcoin miners in Labrador (Canada) and Indiana, Iowa and Nebraska in the USA. Whilst the Company will focus initially on BTC mining, it will also consider the mining of other cryptocurrencies, and operations in the DeFi, AI and Big Data space in the future.

The directors of Vinanz Limited accept responsibility for this announcement.

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]

 

END