Vinanz Ltd (LSE:BTC, OTCQB:VINZF) has added nearly 37.72 bitcoin to its corporate treasury, bringing its total holdings to 58.68, as the London-listed company continues to build a bitcoin-focused investment strategy.
The latest purchases were made at an average price of $102,056 per coin, totalling $3.85 million and quickly deploying a substantial chunk of the $4.9 million (£3.6 million) raised in its oversubscribed WRAP retail offer.
It marks the first transaction conducted through its new institutional custody account with Fidelity Digital Assets, a move that signals an increasing focus on secure, large-scale holdings.
CEO Hewie Rattray said: "We are continuing to execute on our vision of building the most transparent, publicly traded bitcoin treasury company in the UK.
"With this latest purchase, and our onboarding with Fidelity Digital Assets, we are reinforcing both our conviction in bitcoin and our commitment to institutional-grade custody, governance, and access for investors seeking listed exposure to BTC.
"We look forward to updating the market later this week as we deploy additional capital from the direct subscription tranche of the fundraise into Bitcoin assets."
Vinanz, which trades on the London Stock Exchange and in the United States, also operates bitcoin mining sites across North America. The company said the average cost of its entire bitcoin portfolio now stands at $97,491.
The approach mirrors a broader trend among publicly listed groups seeking to use digital assets as an alternative store of value, though price volatility remains a central risk.
Bitcoin prices have risen sharply in recent months, fuelled by institutional demand and the launch of new investment vehicles in major markets