Australian Bitcoin Mining Firm Raised $5.9 Million at ASX IPO

The Bitcoin Group announced today that its IPO offer on the Australian Securities Exchange (ASX) and ASX Bookbuild closed on 25th January 2016, after having raised the amount of $5,927,168.40. The quotation of the shares on the ASX has not yet occurred, however BCG is said to be currently working with the venue on the listing application process.

Sam Lee, CEO, BCG
Sam Lee, CEO, BCG

Sam Lee, Chief Executive Officer of the firm, commented to Finance Magnates about the raised capital: “$5.9 million raised is a solid result, as it is sufficient for the company to execute it’s current strategy of expanding our footprint through acquiring new Mining Equipment.

We are excited to be joined by many investors who believe in the future of Bitcoin’s role in the fintech revolution, we look forward to playing our part in democratizing access to the financial world. We hope to bring more transparency and accountability to our industry, as we take one step closer to becoming the worlds first Bitcoin Mining IPO.”

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

Read more ... source: TheBitcoinNews