The Bitcoin Group (BCG), Australian bitcoin mining company, which seeks to trade on the Australian Securities Exchange (ASX), has declared raising A$5,927,168.40  (US$4.25 mln) as its IPO comes to an end.

Though Bitcoin Group managed to raise less than a third of the sum it hoped to gather, the company’s CEO Sam Lee says the result is “sufficient” to proceed with the current strategy acquiring new mining equipment to “expand” Bitcoin Group’s “footprint.”

Last year the IPO was postponed twice as an Australian regulator requested special mining expertise after the company had to retract speculations concerning alleged investment in the Bitcoin Group by the Australian prime minister.

On 2 February the Bitcoin Group confirmed that it continues its efforts to get listed on ASX:

“The quotation of the shares on the ASX has not yet occurred. BCG is currently working with ASX on the listing application process. Further details will be announced when known.”

Bitcoin Group is said to produce about 1.2% of the global bitcoin mining output. The majority of its operations are conducted in China and Iceland, both known for cheap electricity supply.

Maria Rudina