Blockstream raises $ 16 million for its Bitcoin mining STO in just a few hours

189
SHARES
1.5k
VIEWS
ADVERTISEMENT

Related articles

Large blockchain technology company Blockstream has completed six tranches of its Bitcoin (BTC) Mining Security Token Offering (STO), securing a total of 30.9 million euros (36 million US dollars).

Blockstream officially announced Thursday that the company raised € 13.9 million ($ 16.1 million) in the sixth tranche of its Bitcoin mining-focused security token known as the Blockstream Mining Note (BMN).

According to the announcement, the recent increase was the largest tranche Blockstream has ever issued, indicating increasing interest from private and institutional investors. The increase brings BMN’s total offering to more than 122, with the total number of investors coming in at 70.

Blockstream officially launched its BMN security token in March 2021, offering non-US qualified investors an alternative to mining Bitcoin or investing in Bitcoin mining stocks by mining BTC at BMN’s associated hashrate. Each BMN1 is issued on Bitcoin’s liquid sidechain and entitles investors to up to 2,000 terahashes per second of Bitcoin, which is mined in Blockstream’s mining facilities for companies.

The BMN token can be traded with other qualified investors and provides the BMN holder with associated BTC when it matures for a three-year term from July 2021 to July 2024.

Related: Bitcoin-based security token offering approved in Germany

The news comes amid Blockstream as it prepares to list its BMN security token on Bitfinex Securities, a new STO platform of the Bitfinex cryptocurrency exchange regulated in Kazakhstan’s national financial center, the Astana International Financial Center. With the launch of Bitfinex Securities, BMN will be one of the first assets to be listed on the new platform.