Published on July 25th, 2015 | by bitcoin0
Australian Regulator Blocks from IPO Bitcoin Mining Company
By issuing a stop order, the Australian Securities and Investment Commission (ASIC) has further stalled the initial public offering (IPO) requested by Bitcoin mining company Bitcoin Group Limited (BGL, or simply: Bitcoin Group).
Bitcoin Group is a Bitcoin mining operator based in Melbourne, with close ties to the Chinese mining industry.
The company claims to currently produce some 1.45% of global mining output by operating 5.3 petahashes of mining hardware in seven mining sites across China, as well as Iceland and Australia.
Bitcoin Group CEO Samuel Lee had announced that his company lodged its IPO Prospectus to ASIC on the June 29.
In February of this year, the bitcoin company posted information about its proposed IPO on Chinese social media platform WeChat.