Vinanz Limited Bitcoin miners speed increased by over 10% (5344A)
23 Januar 2024 - 8:00AM
UK Regulatory
TIDMBTC
RNS Number : 5344A
Vinanz Limited
23 January 2024
23 January 2024
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 increases speed of Bitcoin miners by more than 10%
Vinanz Limited (London AQSE: BTC and US OTCQB: VINZF), the
London-listed Bitcoin mining company focusing on decentralised
Bitcoin mining facilities throughout the US and Canada, is pleased
to announce that the Luxor Firmware is now starting to be deployed
into the Company's Canadian Bitcoin mining fleet installed in the
BlockLAB facilities in Labrador with excellent results already
evident.
BlockLAB have informed Vinanz that it has over-clocked the first
18 Bitcoin mining units by 50 Mhz each seeing an overall gain of
about 240 TH/s (Terahash/second), which is an increase of an
average 13 TH/s per miner or just over 10%.
BlockLAB, who host 270 of Vinanz's Bitcoin miners, will now
continue to progressively roll-out the over-clocking on all of
these units in their facility.
On 20 November, Vinanz announced that it had signed a strategic
partnership with US-based Luxor Technology Corporation ("Luxor
Technology") to increase Vinanz Limited's Bitcoin miner's
operational efficiencies, mining hashrate, and operating margins on
its North American mining fleet.
Vinanz and Luxor Technology agreed to deploy Luxor's Firmware on
Vinanz's Bitcoin mining fleet within the US and Canada. This
roll-out of the Firmware is being done to optimise and maximise
Vinanz's miners in anticipation of the 2024 Bitcoin Halving. This
will enable Vinanz to produce more Bitcoins from the same mining
fleet without additional CAPEX.
Luxor Firmware is a type of software that unlocks the
capabilities of Bitcoin mining hardware, allowing Bitcoin miners to
access advanced settings, monitoring, and management tools that
enable Bitcoin mining companies to optimise their ASIC miner fleet.
When Bitcoin mining profitability is low, Luxor's Firmware improves
mining hardware efficiency to increase margins. When profitability
is high, miners can use firmware to increase a machine's hashrate
and accelerate return on investment.
David Lenigas, Vinanz's Chairman, commented.
"To see an increase in processing speed of over 10% in our
Canadian based Bitcoin mining fleet, as we roll-out the Luxor
Firmware, is very impressive indeed. As we roll out this software
to over-clock all of our 270 miners in Canada, we should expect to
see an overall increase in Bitcoin generated capacity from these
machines by at least 10% as well - a brilliant result. Hopefully we
can have all of our miners in Canada spinning at faster rates by
the end of February."
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 3855 5551
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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