Well-known AIM promoter and mining engineer David Lenigas has signalled his intention to float bitcoin mining company Vinanz Ltd on the Aquis Stock Exchange.
BVI-registered Vinanz said it “aims to build out a fully-fledged Bitcoin mining company initially focusing on installing clusters of Bitcoin miners in multiple decentralised data facilities throughout the US and Canada through third-party cryptocurrency mining providers such as Compass Mining”.
The company will initially focus on bitcoin mining while exploring other mineable cryptocurrencies as well as “operations in the DeFi (decentralised finance) and Big Data space in the future”.
On admission to AQSE, Vinanz intends to acquire the mining operations of AQSE-listed Valereum plc, consisting of 20 bitcoin mining machines and approximately 4.76 bitcoins
Currently, Valereum has a hosting agreement with Compass Mining.
Admission is expected to go ahead on April 21 and is being advised by First Sentinel Corporate Finance Limited.
Lenigas, who will serve as executive chairman, has a 31.25% pre-admission stake in Vinanz, as does proposed financial director Jeremy Edelman.