Sorry but I respectfully disagree.

There's a difference between zero-rated items and exempt items.

Good explanation here : http://happyaccountant.wordpress.com/2010/08/26/the-difference-between-zero-rated-vat-vat-exempt-out-of-scope-of-vat/

There's a limited list of zero-rated items and bitcoin is not on it. Bitcoins are however, VAT exempt as argued here, under the "payment services" exception https://bitcointalk.org/index.php?topic=259045.0 .

The unfortunate consequence is that "suppliers of Exempt goods cannot reclaim the input VAT (the VAT on their own purchases) relating to Exempt Supplies" -> so that would mean no VAT recovery on ASIC equipment.