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Thank you for signing up. Sorry, it looks like an error occurred. A local Bitcoin miner is the first cryptocurrency business in the world to offer shares to investors through an IPO ahead of its ASX debut. After months of delays, Australian bitcoin company Bitcoin Group will finally make its share market debut in February. The Melbourne-based company is the first cryoptocurrency miner in the world to offer shares through an initial public offering, which opened on December The company, which lodged its first prospectus in July , has revised the document three times on orders from the Australian Securities and Investment Commission to clarify some details.
Chief executive Sam Lee said the steps were expected for a company setting a precedent in new industries, and a goal of the ASX float was to give the entire bitcoin industry some accountability and transparency. Bitcoin is a digital currency, a medium of exchange that is electronically created and stored with no central authority, and no physical notes or coins.
Bitcoin Group, which has five computer centres in China, is able to crack one to two blocks a day using 6, machines. With the float, the company is offering tech-savvy investors the opportunity to invest in the digital currency and the technology behind bitcoin.
Another bitcoin miner, Digital BTC, joined the local share market through a backdoor listing in July Download our free app on the App Store or Google Play for the latest headlines and breaking news alerts.
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Updated Updated 14 January The company earns 25 bitcoins per block, but that rate is set to halve after July Bitcoin Group shares are due to start trading on February 2.
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