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Blockchain Global Ltd. is a multinational bitcoin mining and management consulting company headquartered in Melbourne, Australia. Founded as Bitcoin Group, after attempting to become the first digital currency company to IPO without a so-called 'backdoor listing', the company expanded its focus into management consulting and corporate incubation.
As of September 2015[update], with seven bitcoin mining locations in Australia, China, and Iceland, Bitcoin Group's mining operation generated 6.2 petahashes, approximately 1.57% of the Global Hash Power. 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.[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, 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. Bitcoin Group closed their offer on 25 January 2016 after raising $5.9 million, less than a third of the target, and in March 2016 withdrew the offer and refunded subscribers after ASX deemed their liquidity insufficient. 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.
In August 2016 Bitcoin Group rebranded as Blockchain Global to reflect a broadened focus including management consulting and business incubation. 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.
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- Georgia Wilkins; Shaun Drummond (9 March 2016). "ASX nixes Bitcoin Group's sharemarket float over capital concerns". Sydney Morning Herald. Retrieved 6 May 2019.
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