Vaultz Capital PLC (AQSE:V3TC) has signalled steady progress in its digital asset strategy, following its latest purchase of 20 Bitcoin as part of a long-term treasury policy.
The company said it acquired the new coins at an average price of £88,981 each, bringing its total Bitcoin holdings to 70, acquired at an average of £82,653 per coin.
Vaultz said its total outlay on Bitcoin now stands at just under £5.8 million. The group is positioning itself to benefit from the long-term appreciation of Bitcoin as part of its wider digital asset focus.
Alongside the treasury update, Vaultz has launched its first steps into Bitcoin mining, securing 20 petahashes per second (PH/s) of cloud-based hashrate capacity, the equivalent of about 200 mining units.
Mining allows the company to earn Bitcoin directly by helping to verify transactions on the network and strengthening its security.
Vaultz said these initiatives are part of its aim to develop a scalable, revenue-generating business by taking an active role in the Bitcoin network’s infrastructure.
CEO Alex Appleton said: "We're delighted to have secured access to hashrate to support the Bitcoin network.
"At the same time, we've strengthened our treasury position with additional Bitcoin, reinforcing our conviction in building a robust balance sheet anchored by one of the world's hardest asset."