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Vaultz Capital purchases 20 BTC at PS1.78 Million, increasing its holdings to 70 BTC.
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The company begins Bitcoin mining operations using 20 PH/s cloud-based hashrate.
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Vaultz Capital joins BlackRock and Strategy as one of 135+ public companies that hold Bitcoin.
Bitcoin institutional adoption continues to grow as companies of all sizes add the asset to their financial statements. The latest is UK listed firm Vaultz capital, which has just purchased more Bitcoin and launched their first mining operation.
Vaultz Capital (a UK-listed digital assets firm listed on AQSE), has announced that it has purchased 20 additional Bitcoin tokens for an average price per token of PS88.981 ($119.380).
The company’s BTC holdings now total 70 coins, worth approximately PS5.79million. The average purchase price for all coins is PS82.653 or approximately $10,766.
Bitcoin Mining Operations Start
Vaultz Capital has expanded its treasury and is now focusing on Bitcoin mining. The company has acquired 20 petahashes/second (PH/s) worth of hashrate, which is equivalent to 200 cloud-based miner units.
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Vaultz is now directly involved in Bitcoin mining for the first time. The cloud-based setup enables the firm to contribute towards the security and decentralization the Bitcoin network, without managing physical mining equipment.
Vaultz Capital stated that the hashrate purchase aligns with its strategic goal to build a scalable and revenue-generating business by participating in Bitcoin network infrastructure.
“We are delighted to have access to hashrate in order to support the Bitcoin Network,” said CFO Alex Appleton. “At the time, we have strengthened our treasury by adding additional Bitcoin. This reinforces our conviction in building up a robust balance-sheet.”
Institutional holdings now exceed 3.5 million BTC
Vaultz Capital joins a growing group of institutional players who are embracing Bitcoin as an infrastructure and treasury asset. According to data from Bitcoin Treasuries more than 3.5 millions BTC are now held by 273 companies, governments, ETFs and private corporations. This is nearly 16.7% of Bitcoin’s total circulating stock.
Strategy is the leader among public companies with 601,550 BTC valued at $71.7 Billion. Marathon Digital, on the other hand, holds around 50,000 BTC.
BlackRock’s iShares Bitcoin Trust is the largest ETF, with 731,516 BTC. Fidelity follows with FBTC, which manages over 206,000 BTC.
Even governments are holding. The U.S. Government alone has over 207,000 BTC. These were seized mainly from cybercrime investigations.
Related toMacro indicators rhyme with 2017 bull run when Bitcoin surged 23x – Analyst
The race to secure BTC for treasury reserves is heating up. With over 135 publicly-listed firms now holding Bitcoin, and major asset managers joining the scene, it’s no surprise that the number of Bitcoins has increased.
Bitcoin is currently trading at $119.222, which represents a 1.1% rise over the last day. The token has seen a 15.1% increase in the last month and 78.6% growth year-to date.
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