The infrastructure company Blockstream announced the issue of security tokens designed to give investors access to mining the first cryptocurrency.
Now even more investors can get involved in #Bitcoin mining. The #BlockstreamMiningNote (BMN) provides more flexibility than traditional investment in physical mining infrastructure by packaging #BTC mining into a tradable @Liquid_BTC-based token. 🌊⛏️💎 https://t.co/J2PSJndwEE pic.twitter.com/OJMWOwobuN
— Blockstream (@Blockstream) March 30, 2021
Each Blockstream Mining Note (BMN) will grant the holder the right to mine Bitcoin at a hashrate of 2000 TH/s at Blockstream’s facilities in the United States and Canada. The mined cryptocurrency will be stored in cold storage until delivery to the ultimate holder after 36 months.
The first BMN tranche worth €12.5 million will go on sale on 7 April 2021. The offering is open to accredited investors outside the US. The minimum investment amount will be €200,000 or equivalent in Bitcoin, including via Liquid Network, and USDT.
Mining backed by BMN is planned to begin by July 9.
Beginning in mid-Q3 and over the course of a year Blockstream plans to issue token batches on a monthly basis. The total issuance will amount to €85 million.
After the initial investment, the asset will trade on the over-the-counter market with a minimum denomination of 0.1 BMN.
The company’s partner in the project is the regulated platform security tokens STOKR from Liechtenstein.
Blockstream says the offer will appeal to investors seeking a quick and low-cost way to participate in Bitcoin mining—without the need to purchase equipment, operate it and maintain it.
The offer will provide additional flexibility by allowing investors to adjust their exposure through the secondary market, the firm said.
In 2021, Blockstream continued to boost its hashrate by purchasing Bitcoin miners for $25 million from the Chinese manufacturer MicroBT.