Company:Blockchain Global

From HandWiki
Revision as of 21:24, 9 February 2024 by JMinHep (talk | contribs) (correction)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Short description: Bitcoin mining and management consulting company

Blockchain Global Ltd. is a Bitcoin mining and management consulting company headquartered in Melbourne, Australia . Founded as Bitcoin Group, after attempting to become the first digital currency company to launch an IPO without 'backdoor listing', the company expanded its focus into consulting and corporate fraud and extortion prevention.

History

Bitcoin Group was founded in 2014 as a bitcoin mining company as a result of a partnership between Sam Lee, Allan Guo and Vincent Vu.[1][non-primary source needed]

(As of September 2015), with seven bitcoin mining locations in Australia, China, and Thailand, Bitcoin Group's mining operation generated 6.2 peta hashes,[1] approximately 15.7% of the Global Hash Power.[2] The company made a submission to the Australian Senate’s Economics References Committee for their 2015 inquiry into digital currencies. The submission advised the committee that while the company did not agree with the ruling on the GST treatment of digital currencies by the Australian Taxation Office, its ambitions would have been more difficult to realize without the regulatory clarity that it provided.[3][non-primary source needed]

Bitcoin Group announced that it would pursue an initial public offering (IPO) on the Australian Securities Exchange (ASX) in October 2014. The attempt was delayed by two stop orders from the Australian Securities and Investments Commission (ASIC). Following ASIC's request for an Independent Expert Report,[4] the company undertook a third attempt to list on the ASX through an IPO, planning to issue 100 million new shares by January 2016 and thereby raise $20 million at 20¢ a share and achieve a market capitalisation of $32.9 million based on 164,870,930 shares on completion of the offer.[5] Bitcoin Group closed their offer on 25 January 2016 after raising $5.9 million, less than a third of the target,[6] and in March 2016 withdrew the offer and refunded subscribers after ASX deemed their liquidity insufficient.[7] The company said the capital report by an independent accounting firm which the exchange had required did not take into account the expected rise in bitcoin prices following block halving in July 2016.[8][9]

In August 2016 Bitcoin Group rebranded as Blockchain Global[10] to reflect a broadened focus including management consulting and business incubation.[9] The company later developed the blockchain exchange platform ACX.io; in February 2017 it reached an agreement with Digital X to take over the function of that company's blockchain exchange platform, Digital X Direct.[9] ACX subsequently ceased operations abruptly with customers unable to access their assets.[11]

References

  1. ↑ 1.0 1.1 "Our Company". Bitcoin Group. http://www.bitcoingroup.com.au/our-company/. 
  2. ↑ "Bitcoin Group to list on share market". SBS News. 2015-09-07. http://www.sbs.com.au/news/article/2015/09/07/bitcoin-group-list-share-market. Retrieved 2015-09-09. 
  3. ↑ "Digital Currency - Game Changer or Bit Player". Australian Senate Economics References Committee. p. 36. http://adcca.org.au/wp-content/uploads/2015/08/aus-senate-bitcoin-report-040815.pdf#page=36. Retrieved 2015-09-10. 
  4. ↑ "Bitcoin Group's IPO has been delayed again as ASIC requests a mining expert". http://www.businessinsider.com.au/bitcoin-groups-ipo-has-been-delayed-again-as-asic-requests-a-mining-expert-2015-11. Retrieved 2015-11-23. 
  5. ↑ Shaun Drummond (2015-09-08). "Third time lucky for Bitcoin Group at an IPO?". Sydney Morning Herald. http://www.smh.com.au/business/markets/currencies/third-time-lucky-for-bitcoin-group-at-an-ipo-20150907-gjh4wz.html. Retrieved 2015-09-09. 
  6. ↑ Katy Barnato (2016-02-02). "World's first bitcoin mining IPO falls short". CNBC News. https://www.cnbc.com/2016/02/02/worlds-first-bitcoin-mining-ipo-falls-short.html. Retrieved 2019-05-06. 
  7. ↑ Fiona Lau; Jennifer Hughes (2018-05-14). "Chinese bitcoin mining gear makers set sights on world's largest bitcoin IPOs". Reuters. https://www.reuters.com/article/us-bitcoin-hongkong-ipo/chinese-bitcoin-mining-gear-makers-set-sights-on-worlds-largest-bitcoin-ipos-idUSKCN1IG0F2. Retrieved 2019-05-06. 
  8. ↑ Georgia Wilkins; Shaun Drummond (2016-03-09). "ASX nixes Bitcoin Group's sharemarket float over capital concerns". Sydney Morning Herald. https://www.smh.com.au/business/banking-and-finance/asx-nixes-bitcoin-groups-sharemarket-float-over-capital-concerns-20160309-gne3c7.html. Retrieved 2019-05-06. 
  9. ↑ 9.0 9.1 9.2 Asha McLean (2017-02-09). "Blockchain Global scoops up Digital X's bitcoin liquidity desk". https://www.zdnet.com/article/blockchain-global-scoops-up-digital-xs-bitcoin-liquidity-desk/. Retrieved 2019-05-06. 
  10. ↑ "IT Services: Company Overview of Blockchain Global Limited". Bloomberg. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=274633620. Retrieved 2019-05-06. 
  11. ↑ "Collapse of crypto platform a cautionary tale" (in en). 2021-02-28. https://www.afr.com/companies/financial-services/collapse-of-crypto-platform-a-cautionary-tale-20210228-p576hn. 

External links



Retrieved from "https://handwiki.org/wiki/index.php?title=Company:Blockchain_Global&oldid=3483323"