Blockchain Global Limited. is a
Bitcoin mining and management consulting company. Its headquarter is located at
Melbourne
Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a met ...
,
Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...
. Founded as Bitcoin Group, after attempting to become the first digital currency company to launch an
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
without 'backdoor listing', the company expanded its focus into consulting and corporate fraud and extortion prevention.
History
Bitcoin Group was founded in 2014 as a bitcoin mining company as a result of a partnership between Sam Lee, Allan Guo and Vincent Vu.
, with seven bitcoin mining locations in Australia, China, and Thailand, Bitcoin Group's mining operation generated 6.2 peta hashes,
[ approximately 15.7% of the Global Hash Power.]Australian Senate
The Senate is the upper house of the Bicameralism, bicameral Parliament of Australia, the lower house being the House of Representatives (Australia), House of Representatives. The composition and powers of the Senate are established in Chapter ...
’s Economics References Committee for their 2015 inquiry into digital currencies. The submission advised the committee that while the company did not agree with the ruling on the GST GST may refer to:
Taxes
* General sales tax
* Goods and Services Tax, the name for the value-added tax in several jurisdictions:
** Goods and services tax (Australia)
** Goods and Services Tax (Canada)
** Goods and Services Tax (Hong Kong)
**G ...
treatment of digital currencies by the Australian Taxation Office, its ambitions would have been more difficult to realize without the regulatory clarity that it provided.
Bitcoin Group announced that it would pursue an initial public offering (IPO) on the Australian Securities Exchange
Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...
(ASX) in October 2014. The attempt was delayed by two stop orders from the Australian Securities and Investments Commission
The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to pro ...
(ASIC). Following ASIC's request for an Independent Expert Report, the company undertook a third attempt to list on the ASX through an IPO, planning to issue 100 million new shares by January 2016 and thereby raise $20 million at 20¢ a share and achieve a market capitalisation of $32.9 million based on 164,870,930 shares on completion of the offer. Bitcoin Group closed their offer on 25 January 2016 after raising $5.9 million, less than a third of the target, and in March 2016 withdrew the offer and refunded subscribers after ASX deemed their liquidity insufficient. The company said the capital report by an independent accounting firm which the exchange had required did not take into account the expected rise in bitcoin prices following block halving in July 2016.
References
External links
Official website
{{Bitcoin
Bitcoin companies
Australian companies established in 2014
Companies based in Melbourne