The Bitcoin mining firm Vinanz has successfully raised £3.58 million from investors, significantly exceeding its initial target of £1 million. This funding aims to bolster its cryptocurrency holdings and mining operations.
Key Takeaways:
Vinanz secured £3.58 million, more than three times its objective, to enhance Bitcoin mining capabilities and increase treasury holdings.
The funding round was led by retail investors, who contributed £3 million through the investment platform WRAP.
The company has plans to undergo a rebranding as the London Bitcoin Company.
According to the London Stock Exchange-listed firm, the new capital will support the acquisition of additional Bitcoin and strengthen its mining presence in North America. CEO Hewie Rattray expressed that the successful fundraising reflects a heightened interest in their LSE-listed Bitcoin strategy and accelerates their aspiration of becoming a prominent Bitcoin company listed on the UK’s main board.
Retail Investors Dominate Vinanz Raise With £3M via WRAP
Out of the total amount raised, £3.03 million were generated through the retail investment channel WRAP, while the remaining £550,000 was sourced from direct institutional subscriptions. Both segments were priced at 13.75p per share.
Vinanz operates mining facilities in the United States and Canada and holds Bitcoin as a treasury asset, emulating the strategy made popular by American companies like MicroStrategy, Marathon Digital, and Riot Platforms.
With Bitcoin’s value increasing by more than 75% since April 2024, partly due to the recent halving event, the demand for exposure to the cryptocurrency seems to be on the rise once again.
We are very pleased to see so many new retail shareholders coming on to the @VinanzBTC share register after this successful Retail Offer WRAP. Brilliant result £3.6m. We are going to own a lot more #Bitcoin very soon and also gives us horsepower to grow our biz. #BTC. Very… https://t.co/tqpSlWTFo1
— David Lenigas (@DavidLenigas) June 17, 2025
Bitcoin briefly reached a price of $111,000 in May and is currently trading around $107,000. Analysts have projected potential long-term prices ranging from $200,000 to upwards of $1 million.
Vinanz’s successful fundraising illustrates a growing enthusiasm for regulated, exchange-listed options for Bitcoin exposure, particularly in the UK, where there are limited companies under full oversight from the LSE and FCA.
The company anticipates its rebranding to the London Bitcoin Company will take place shortly.
This announcement contributes to a broader trend of businesses opting for Bitcoin as a strategic investment or hedge for their balance sheets. Latest reports indicate that 223 public entities currently own Bitcoin, a sharp increase from 124 just days prior.
Currently, over 819,000 BTC, which is approximately 3.9% of the total supply, is held by public companies, according to BitcoinTreasuries.NET.
MicroStrategy continues to lead as the largest corporate holder of Bitcoin, with 580,250 BTC valued at around $60.9 billion.
Other notable Bitcoin holders include Marathon Digital Holdings and Tesla, both boasting over $1 billion in Bitcoin assets.
VanEck Warns BTC Treasury Strategy May Backfire
Sigel specifically criticized the usage of at-the-market (ATM) share issuance programs, noting their potential to be dilutive when stock prices are close to the company’s Bitcoin net asset value (NAV).
To mitigate value erosion, he recommended several approaches, including pausing ATM programs if a company’s stock trades below 0.95x NAV for over ten days.
He drew parallels to historical failures in the crypto mining industry, where excessive dilution and high executive compensation led to significant losses for shareholders.
As a case in point, he cited Semler Scientific, a medical technology firm that ventured into the Bitcoin space in 2024. Despite acquiring 3,808 BTC, the company’s stock has plummeted over 45%, resulting in a mNAV of only 0.82x.
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