Vaultz Capital plc (AQSE: V3TC), a digital asset operating company, is pleased to announce its audited final results for the year ended 30 April 2025.
Chairman’s Statement
I am pleased to present the Annual Report and Financial Statements of Vaultz Capital plc (“the Company” or “Vaultz”) for the year ended 30 April 2025 – a year which concluded with a solid platform of activity and set the stage for a significant strategic transformation shortly thereafter.
Post-Balance Sheet Transformation
Following the financial year-end, the Company underwent a major repositioning, including a reclassification to an operating company and a change of name to Vaultz Capital plc, reflecting our new strategic direction. This post balance sheet event marks a critical inflection point in the Company’s evolution into an operational business focused on scalable participation in the Bitcoin infrastructure ecosystem.
Operating Strategy
The repositioning formalises our post period pivot towards building a revenue-generating business model centred on acquiring and managing Bitcoin hashrate – the underlying computational power that supports and secures the Bitcoin network. Our objective is to monetise block rewards and transaction fees, and we are pursuing Cloud Mining arrangements to secure diversified and guaranteed access to hashrate.
The main purpose for Vaultz mining efforts is to create revenue by mining and releasing coins into the coin economy. Whenever a Bitcoin transaction takes place, in order to be final, it needs to be validated. These transactions are validated in batches called blocks by miners. Every block has to be solved, or mined, in order to be confirmed on the blockchain. Solving of a block involves mathematical puzzles which are difficult to solve and requires significant computational power to achieve successfully.
Upon successfully mining a block, a reward in Bitcoin is given to the Company in return, together with all the transaction fees association with the transactions in that block. Thus, our mining operations are fundamentally a competition of mathematical puzzles to solve for the reward of coins.
Direct Hardware Ownership
Direct hardware ownership strategy involves purchasing and operating specialized equipment – ASICs (Application-Specific Integrated Circuits) – to mine blocks and thus we could earn newly minted Bitcoin. This approach offers the potential for direct coin accumulation and more control over mining operations, but it requires significant upfront investment and ongoing operational costs. Consequently, we have taken a different approach and focus our efforts on Cloud Mining.
Cloud Mining
At its core, Cloud Mining is simple; we have entered into a contract with a cloud mining platform who broker hashrate between full-blown mining facilities equipped with mining hardware, and buyers that wish to purchase guaranteed hashrate without investing significant capital upfront. We pay a fee for this as a managed service based on the computing power we commit to purchasing. Our provider manages the commitment, while we receive a share of the mined cryptocurrencies.
Cloud Mining presents fewer maintenance issues than Direct Hardware Ownership. With less hardware in the form of fewer servers, our maintenance costs are immediately lowered. It also allows us the flexibility to increase or decrease hashrate commitment depending on the difficulty of the blockchain, maximising our potential returns for committed spend.
As a result, our Bitcoin mining operation is made more efficient and cost-effective by outsourcing key mining technology services.
Bitcoin Treasury Policy
Concurrent with the operational pivot, the Company also adopted a Bitcoin Treasury Policy – another key development that occurred post year-end. This policy enables us to hold Bitcoin on the balance sheet as a long-term reserve asset, consistent with our conviction in its role as sound monetary infrastructure. Together, these two initiatives define a dual operating and treasury-led strategy that we believe offers significant upside potential. As at the date of this report the Company holds 135 Bitcoin in its Treasury.
Residual Portfolio Actions
In line with our focus on core digital asset activities, the Board has resolved to write down the carrying value of our investment in Vestigo Technologies Ltd (“Vestigo”) to nil, reflecting ongoing shareholder disputes and limited visibility on near-term value realisation. On 18 August 2025, we sold our interest in Blue Star Helium Ltd, releasing capital for redeployment into Bitcoin network infrastructure and Treasury activities. These actions underline our disciplined approach to capital allocation and our commitment to concentrating resources on scalable, revenue-generating operations within the Bitcoin ecosystem.
Fundraising and Market Support
Post year-end, the Company successfully raised gross proceeds of approximately £14 million through a combination of institutional placings and WRAP Retail Offers, ensuring inclusive participation for existing shareholders. These proceeds provide the capital foundation required to pursue our updated strategic objectives.
Strengthened Leadership & Advisory Expertise
Following the year end, we strengthened our leadership team with the appointment of Eric Benz as Chief Executive Officer, bringing deep experience in digital assets, fintech, and high-growth technology ventures. We also established a Blockchain Advisory Board to guide our blockchain infrastructure, regulatory engagement, and treasury strategy. Initial members include Hans Henrik Hoffmeyer, co-founder and former COO of Coinify Aps (“Coinify”); Marc Taverner, CEO and Co-Founder of FE Swiss Financial AG (“XEROF”) and former Executive Director of International Association for Trusted Blockchain Applications (“INATBA”); and Adam Vaziri, CEO of Blockpass UK Ltd (“Blockpass”).
Outlook
While the financial statements reflect our position as at 30 April 2025, the developments since year-end represent a profound strategic shift. With a clear operating model, a Bitcoin-aligned treasury strategy, strengthened leadership, and a disciplined capital allocation framework, Vaultz Capital plc is well positioned to capitalise on the growing global demand for digital infrastructure exposure through a listed UK vehicle.
On behalf of the Board, I thank our shareholders for their continued support and look forward to delivering long-term value as Vaultz Capital plc.
Charlie Wood, Non-Executive Chairman
2 September 2025
