MELBOURNE, Australia--Cryptocurrency “miner” Bitcoin Group Ltd. has pulled plans to float on the Australian securities exchange, blaming a call by the exchange to prove it will have enough capital to run its operations.

The company said Wednesday it had elected to withdraw from an initial public offering and would return money collected to investors. It planned to consider a fresh offer after a so-called block halving later in the year when the value of bitcoin is expected to move sharply, it said.

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