Vinanz Expands Bitcoin Mining Operations to Texas with New Cluster

• Vinanz Limited launches a new Bitcoin mining cluster in Texas, marking its latest expansion in the US.
• The company partners with Compass Mining to host its miners, contributing 600 Terahash to its operations.
• Vinanz plans to explore further opportunities in cryptocurrency mining, including other digital currencies and DeFi initiatives.

Vinanz Limited, a publicly listed Bitcoin mining company, has announced the launch of its latest Bitcoin mining cluster in Texas. This move marks a significant step in Vinanz’s ongoing strategy to expand its mining operations across multiple states in the United States and Canada. The Texas facility, located in the Midland area, is the newest addition to Vinanz’s growing fleet of Bitcoin miners.

New Cluster in Texas

Vinanz’s new Bitcoin cluster in Texas involves the deployment of three Antminer S21 200TH Bitcoin miners. These miners, hosted under a contract with Compass Mining Inc., are expected to contribute approximately 600 Terahash (TH) to Vinanz’s mining operations. The decision to partner with Compass Mining highlights Vinanz’s strategy of leveraging third-party hosting services to expand its footprint in the cryptocurrency mining sector.

Expanding Operations Across the US

Texas is the latest state where Vinanz has established its presence, following its recent expansions into Nebraska, Indiana, and Iowa. This addition strengthens the company’s mining operations, which already include a significant presence in Labrador, Canada. David Lenigas, Chairman of Vinanz, emphasized the importance of the Texas expansion, noting that the company plans to increase its mining activities in the state once the initial miners are confirmed to be operating effectively.

Strategic Partnership with Compass Mining

Vinanz’s collaboration with Compass Mining is a key element of its expansion strategy. Compass Mining, known for its extensive network of Bitcoin mining sites in the US and Canada, is expected to play a crucial role in supporting Vinanz’s growth. Lenigas expressed confidence in this new partnership, indicating that the success of the initial deployment in Texas could lead to further expansion within the state and potentially other locations across the US.

While Vinanz’s immediate focus remains on Bitcoin mining, the company has signaled its intention to explore other opportunities in the cryptocurrency sector. This includes the potential mining of other cryptocurrencies and ventures into decentralized finance (DeFi), artificial intelligence (AI), and big data. This forward-looking approach positions Vinanz to adapt to the evolving landscape of the digital economy.