Bitcoin Group Reissues IPO Prospectus, 3rd Time

Australian bitcoin miner, Bitcoin Group, has once again reissued its prospectus in its attempt to list on the Australian stock exchange.

This is the third issuance of the company’s prospectus as it attempts to respond to issues raised by the Australian stock exchange authority, ASIC.

The agency insisted on an independent consultant to report on the bitcoin mining process and the details of the bitcoin mining equation in the company’s second prospectus.

ASIC is interested in “how the Bitcoin industry operates, the variables underpinning the Bitcoin Mining Equation… and its impact on BCG, and information setting out future performance of BCG..”

The IPO has been delayed until the new year to ensure time for an expert to analyse the company and report to ASIC.

Bitcoin Group is a bitcoin miner that produces over 1.57% of the global mining output, operating across China, Iceland and Australia.
According to it initial prospectus, the group expected to mine between 80,000 and 115,000 Bitcoins in the 2016 financial year.