Blog Archives

Cryptocurrency Mining Group Seeks To Reopen Closed Power Plant

Posted on 13th April, 2018

Earlier this week, the Australian blockchain startup IoT Group signed an agreement to reopen a coal-fired power plant in the Hunter Valley region of New South Wales. Local media outlet The Age reports that the IoT Group aims to use the plant as a “behind the grid” power source, securing inexpensive electricity for a new […]

Publicly traded bitcoin company DigitalBTC claims $4 million in revenue in first quarterly report

Posted on 29th August, 2014

Australia’s first publicly traded bitcoin mining and exchange company digitalBTC released a preliminary final yearly report today, revealing an estimated revenue of $4 million U.S. over three months of operations. The company’s normalized earnings were around $2.5 million for the same period, with a profit of about $600,000. Interestingly, digitalBTC actually reported a net loss […]

Igot launches first bitcoin exchange in the UAE

Posted on 29th August, 2014

The first bitcoin exchange in the United Arab Emirates (UAE) opened today, bringing a fully licensed digital currency commercial brokerage to Dubai. The exchange is a branch office of Australia-based bitcoin exchange igot, and is the first stage of a planned expansion into the Middle East and Asia. Although there will be a small staff […]

Australian government publishes guidelines for bitcoin businesses

Posted on 27th August, 2014 is the Australian government’s official portal for all forms of business in the country down under. It’s the definitive source for details on starting a new business in kangaroo country, providing guides and FAQs for nearly any business-related topic imaginable. This week, the website published its first guide to accepting bitcoin and other digital […]

Bitcoin startup DigitalBTC launches on Australian Securities Exchange

Posted on 16th June, 2014

The latest addition to the Australian Securities Exchange (ASX) may give an indication of things to come for bitcoin investment later this year. Starting today, Australia-based bitcoin services provider DigitalBTC has become the first cryptocurrency company to be traded on a major world exchange. Although DigitalBTC’s business model is based primarily on bitcoin mining, rather […]

Australian venture capital firm unveils $30 million bitcoin fund

Posted on 5th May, 2014

Bitcoin’s venture capital pool grew significantly this week with the launch of a US$30 million fund created by Australian financial technology investors Future Capital. The Future Capital Bitcoin Fund (FCBF) will make “equity investments, globally, into companies facilitating payments, exchanges, trading and smart property rights based around the Bitcoin and other digital currency ecosystem.” Although […]

Australian company plans to set up 100 bitcoin ATMs by 2015

Posted on 2nd May, 2014

ABA Technology recently announced plans to create a network of at least 100 machines across the country by 2015, and more than 500 across the globe by 2016. Founded by 29-year-old entrepreneur Chris Guzowski, the company launched its first bitcoin ATM two weeks ago on the outskirts of Sydney. Working with U.S.-based bitcoin ATM maker […]

National Australia Bank closing bitcoin-related accounts

Posted on 9th April, 2014

Starting next month, the National Australia Bank (NAB) will be closing bitcoin-related accounts, citing an “unacceptable level of risk, both to our business and reputation.” NAB, one of Australia’s “big four” banks, has previously been considered one of the most bitcoin-friendly banks in the country. CoinDesk published the contents of a letter from NAB to […]

Regulation Roundup: Mexico, U.K., Australia, Iran, Luxembourg, Singapore and the Philippines

Posted on 14th March, 2014

As international awareness of bitcoin grows, regulators across the globe are racing to create polices for handling the virtual currency. This week, several countries hinted at coming plans for regulation of bitcoin and related cryptocurrencies. Here are the highlights of this week’s regulation news. Mexico: Banco de México issued a warning about the risks of […]

Australian government watching all Bitcoin-to-AUD conversions

Posted on 24th February, 2014

In a report published earlier today on ZDNet, a representative from the Australian Transaction Reports and Analysis Centre (Austrac) confirmed that the Australian government are tracking every visible conversion of Bitcoin into and out of Australian dollars (AUD). The anti-money laundering agency’s CEO, John Schmidt, made the statement while giving a statement before Australia’s Senate […]