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Blockstream to launch Bitcoin hashrate-backed token


Infrastructure company Blockstream has announced the release of security tokens designed to make it easier for investors to mine the first cryptocurrency.

Each Blockstream Mining Note (BMN) will grant the owner the right to mine bitcoin with a hash rate of 2000 TH / s at the company’s facilities in the US and Canada. The mined cryptocurrency will be kept in cold storage until delivery to the ultimate owner after 36 months.

The first installment of BMN worth € 12.5 million will go on sale on April 7, 2021. Offer open to qualified non-US investors. The minimum investment amount will be € 200,000 or the Bitcoin equivalent, including through the Lightning Network, and USDT.

The firm intends to start mining under the support of BMN by July 9th.

Starting in the middle of the third quarter, Blockstream plans to release batches of tokens on a monthly basis throughout the year. The total issue will be € 85 million.

After the initial investment, the asset will be traded on the OTC market with a minimum par value of 0.1 BMN.

The company’s partner in the project is the regulated security token platform STOKR from Liechtenstein.

Blockstream believes that the offer will interest investors who are looking for an opportunity to quickly and cost-effectively join Bitcoin mining – without the need to purchase equipment, ensure its operation and maintenance.

Additional flexibility will be provided by the ability to regulate its investments through the secondary market, the firm said in a statement.

Recall that in 2021, Blockstream continued to increase its hashrate with the purchase of bitcoin miners by $ 25 million from the Chinese manufacturer MicroBT.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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