Bitcoin Group has scrapped a prolonged awaited skeleton to turn a world’s initial publicly floated bitcoin mining firm.
The Melbourne-based company’s initial open offer (IPO) sealed on Jan 25, with a company’s initial day of trade on a Australian Securities Exchange (ASX) creatively scheduled for Feb 2, 2016.
Instead of trading, however, Bitcoin Group is now returning a AU$5.9 million it lifted to investors.
“The pivotal reason for a withdrawal of a offer is due to a requirement of a ASX, that Bitcoin Group gain a operative collateral news from an eccentric accounting firm, a news not privately compulsory for a inventory on a ASX,” Bitcoin pronounced in a minute to investors.
The company’s eccentric accounting organisation was compulsory to cause in a rebate of newly minted bitcoins caused by supposed `block halving’ in Jul 2016, but courtesy to a approaching boost in bitcoin price, a minute said. According to Bitcoin Group, a final time retard halving occurred in 2012, a bitcoin cost soared in a move 6 months.
The corporate regulator taboo any forecasting on a bitcoin price, definition a operative collateral news was incompetent to concede for any boost in a cryptocurrency’s cost once a series of bitcoins accessible to be mined halved