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Listed Bitcoin mining company Vinanz has announced that it has changed its auditor to PKF Littlejohn.
The firm will immediately replace Pointon Young Chartered Accountants, which has been statutory auditor since the business was set up in 2021.
Vinanz stated that it needed to change to an auditor which had reach in North America, as its business is primarily based in Canada and the USA.
This need was accelerated after the company, which was incorporated in the British Virgin Islands, moved its Aquis listing to the London Main Market in January.
Pointon Young earned total fees of £30,000 for the year ended 31 August 2023, split between an £18,000 audit fee and non-audit services fee of £12,000 for reporting accountant work completed during the listing.
David Lenigas, Vinanz chairman, said: “PKF has a broad global reach and extensive experience in dealing with North American businesses, where Vinanz has its operations. The company has implemented this audit change to better accommodate its growing audit needs for its expanding US and Canadian businesses and assist with the growing North American regulatory requirements we see ahead of us.
“I’d also like to thank our previous auditors Pointon Young Chartered Accountants for the tremendous help to date.”
Vinanz focuses on installing clusters of Bitcoin miners within multiple facilities throughout the US and Canada through third-party cryptocurrency mining providers and has a market cap of approximately £40m.
