London-listed Bitcoin mining company Vinanz Ltd has secured a significant funding agreement with a global investment manager, providing up to $4 million to expand its Bitcoin assets ahead of a planned NASDAQ dual listing.
JUST IN: ?? Publicly traded Vinanz raises funding to buy $2 million in #Bitcoin assets. pic.twitter.com/uSb1d9J6kd
— Bitcoin Magazine (@BitcoinMagazine) May 14, 2025
Strategic Funding for Bitcoin Acquisition
The British Virgin Islands-domiciled bitcoin mining company announced on Wednesday that it has entered an investment agreement with a “global investment manager” for up to USD4 million bridge funding to be distributed over two tranches. The first $2 million has already been received and is being deployed to grow the company’s Bitcoin holdings.
“The first USD2m of this institutional bridge funding has been banked and Vinanz is working to deploy these funds into bitcoin assets in the near term and further updates will be provided shortly on the deployment,” said Chair David Lenigas in the announcement.
The company can access a second $2 million tranche in the future, subject to meeting certain conditions. Under the terms of the agreement, Vinanz will repay each amount, plus 5% annual interest, 12 months after the drawdown date.
The investor may convert outstanding principal and interest into shares at 25 pence or 95% of the lowest VWAP (Volume-Weighted Average Price) over the 10 trading days before conversion.
Accelerating Growth in a “Just Right” Timeframe
Lenigas emphasized the timing of this funding: “In this exciting era of bitcoin’s growing credibility as a viable global financial instrument and store of wealth – time is money and time is short – so Vinanz is looking at all avenues to access growth capital and this bridge funding comes at just the right time for us.“
The funding was facilitated through the company’s U.S. bankers, Dominari Securities, which the company appointed in early April to work with Lucosky Brookman LLP on its planned NASDAQ dual listing.
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NASDAQ Listing Plans
NASDAQ has already reserved the ticker “BTCR” for Vinanz’s potential dual listing, signaling progress in the company’s U.S. market expansion plans.
“The NASDAQ is the home of many of the world’s leading Bitcoin companies and spot Bitcoin ETFs, providing those entities with exposure to institutional investors and significant pools of growth capital,” Lenigas noted regarding the listing strategy.
Expanding U.S. Operations
In addition to growing its Bitcoin holdings, Vinanz has been expanding its operational footprint in North America. The company recently placed its first order for U.S.-made Bitcoin miners from California-based Auradine Inc., with an initial trial order of 20 Auradine AT2880 miners installed at its Indiana host site.
Based on Vinanz’s contracted power rate of 7.5 cents per kWh at this facility, the company estimates a breakeven Bitcoin price of approximately $53,000.
The company currently operates mining facilities across multiple U.S. locations including Nebraska, Iowa, Indiana, and Texas, as well as in Goose Bay, Canada. Following a successful pilot with Megawatt in Indiana last year, Vinanz plans to add 20 more miners alongside its Auradine units, with secured rights to add 41 additional miners.
Market Response
The market reacted positively to the announcement, with Vinanz shares closing up 10% at 15.12 pence in London on Wednesday. However, more recent trading shows some volatility, with subsequent price movements reflecting broader market conditions in the cryptocurrency sector.
Industry Context
The funding comes amid continued institutional interest in Bitcoin and cryptocurrency infrastructure companies. With Bitcoin maintaining a significant valuation despite recent volatility, mining companies like Vinanz are strategically positioning themselves to increase their holdings while expanding operational capacity.
The potential NASDAQ listing would give Vinanz access to U.S. capital markets, potentially allowing for accelerated growth alongside other major Bitcoin mining operations and cryptocurrency companies already trading on American exchanges.
Vinanz’s focus on expanding both its Bitcoin holdings and mining operations reflects a comprehensive strategy to capitalize on what Lenigas describes as Bitcoin’s “growing credibility as a viable global financial instrument and store of wealth.”
Investors will be watching closely for the company’s next updates on how the newly secured funds are being deployed and progress toward its NASDAQ listing plans.
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