Australian Bitcoin Miner Withdraws Bid for Public IPO
Australian bitcoin miner Bitcoin Group is returning $5.9m it raised from investors after the Australian Securities Exchange (ASX) said the firm needed to raise more capital and resubmit its application. The firm said in a 9th March statement to investors that it would return the funds after Australian securities officials deemed the firm ineligible to list due to concerns about its long-term operational viability. The dispute followed the submission of a third-party working capital report by accounting and consulting services firm Grant Thornton. ASX, as detailed in a letter sent to....
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Australian bitcoin miner Bitcoin Group’s official public float on the Australian Securities Exchange (ASX) fell significantly short of its goal of raising $20 million AUD. The cryptocurrency miner raised $367,902.20 AUD. Melbourne-based Bitcoin Group, a miner that has repeatedly attempted to become the world’s first publically floated Bitcoin trading company had the date of closure of its IPO on January 25. The miner offered investors 100 million shares at 20 cents per share, hoping to raise $20 million AUD. However, the miner’s book building run on the ASX, which ended Monday raised just....
Australian bitcoin miner Bitcoin Group has released another prospectus, now filed with the Australian Securities and Investments Commission (ASIC), a move that also saw the company postpone its initial public offering on the Australian Securities Exchange (ASX). Cryptocurrency miner Bitcoin Group has released yet another prospectus while delaying its listing on the ASX to address concerns put forth by the ASIC. The company was asked by the commission to appoint an “appropriately qualified independent expert” to explain the bitcoin mining process involved in mining the cryptocurrency. The....
Following months of repeated delays, Australian bitcoin miner, Bitcoin Group, is now set to make its debut on the Australian Securities Exchange (ASX) in February. Melbourne-based Bitcoin Group is now gearing up for its official public float on the ASX in February. The miner is offering investors 100 million shares at 20 cents per share. The IPO is seeking to raise $20 million by the date of closure on January 25. Bitcoin group operates five computer centers in China and oversees approximately 6,000 machines to mine one to two blocks a day (up to $20,000 in revenue a day in current rates).....
The Australian Securities and Investment Commission (ASIC) recently barred Bitcoin Group Limited from making public statements about its initial public offering. The news hit the glare when the aforementioned Melbourne-based Bitcoin mining startup was found to have sought investment from Chinese investors while citing 'half-baked' plans to get listed on Australian Stock Exchange. According to the ASIC, the company was publicizing its IPO even before complying with the existing obligations. "The publications were made before Bitcoin Group was registered as an Australian company by ASIC and....
Iris Energy has upped its target for its second-IPO funding round. Iris Energy, an Australian firm that invests in Bitcoin (BTC) mining data centers powered by renewable energy sources, has doubled its second pre-initial public offering round.According to Bloomberg, a 13 million Australian dollar ($10 million) commitment from equity manager outfit Platinum Asset Management has seen Iris increase its second pre-IPO target to 40 million Australian dollars ($31 million) from the initial 20 million Australian dollars set earlier in mid-February.As reported by Financial Review back in December....