Australian Bitcoin Mining Firm to List its Shares in February

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Group's shares are now slated to debut for public trading on the Australian Securities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (ASX), under the symbol BCG, on February 2, 2016. This comes after the listing has been pushed back a few times before due to the Australian Securities and Investments Commission (ASIC) asking the group to clarify some statements.

The Melbourne headquartered company has five bitcoin mining centers in China and altogether seven Bitcoin mining locations around the world. The majority of Bitcoin group’s hash power is generated in China, with less than 2% being generated in Australia and Iceland, according to its website. It also currently boasts of operating over six thousand individual mining rigs, the majority of these being Ant Miner.

Bitcoin Group is planning to raise $20 million by going public, floating one-hundred-million shares at twenty cents each at the IPO, which closes on January 25. Approximately $18 million of the proceeds are earmarked for investment in increasing the group’s hash power.

The group's CEO, Sam Lee, told the Australian Associated Press: “This is a billion dollar opportunity rather than a million dollar one. Bitcoin will revolutionise the world of finance because it has the potential to make the world of finance more accountable and cheaper to operate.”

Hard at work:

We are Bitcoin Miners! Picture of BCG Ops Manager, Jacob Cheng and Biz Dev Manager, Martin Davidson. pic.twitter.com/3aao2zY2az

— Bitcoin Group (@BitcoinGroupAU) January 12, 2016

Last month it was reported that the ASX itself was considering the replacement of its current settlement and clearing system with one based on blockchain technology. ASX is reportedly planning to upgrade its settlement and clearing system by the end of 2016.