Summary
- UK-listed cryptocurrency mining firm Vinanz has reportedly raised $4.85 million, three times its target, to purchase additional Bitcoin.
- Private investors reportedly led this fundraising round, investing over £3 million.
- Vinanz stated it will use the raised funds to reinforce its Bitcoin reserves and establish itself as a leading Bitcoin reserve company in the UK.
UK-listed cryptocurrency mining company Vinanz has reportedly raised more than three times its fundraising target in a round aimed at acquiring additional Bitcoin (BTC).
According to CryptoNews on the 17th (local time), Vinanz raised £3.58 million (about $4.85 million) in a funding round designed to boost mining efficiency and support further Bitcoin acquisitions. This amount exceeds three times the initial target of £1 million. Notably, private investors reportedly took the lead in the round, investing more than £3 million.
Hugh Lattrey, CEO of Vinanz, stated, "This fundraising demonstrates the London Stock Exchange's interest in Bitcoin reserve strategies," adding, "With the proceeds, we plan to establish ourselves as the leading Bitcoin reserve company in the UK."
Meanwhile, Vinanz is set to change its name to London Bitcoin Company.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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