The Melbourne-based company is the first crypotocurrency miner in the world to offer shares through an initial public offering, which opened on December 24 2015.
The company, which lodged its first prospectus in July 2015, has revised the document three times on orders from the Australian Securities and Investments Commission to clarify some details.
Bitcoin is a digital currency, a medium of exchange that is electronically created and stored with no central authority, and no physical notes or coins.
As a Bitcoin miner, Bitcoin Group earns money from validating peer-to-peer Bitcoin transactions which are recorded on the blockchain — the digital currency’s publicly accessible money ledger.
Bitcoin Group, which has five computer centres in China, is able to crack one to two blocks a day using 6000 machines. The company earns 25 Bitcoins per block, but that rate is set to halve after July 2016.
With the float, the company is offering tech-savvy investors the opportunity to invest in the digital currency and the technology behind Bitcoin.
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