Bitcoin infrastructure firm Blockstream, announced today the issuance of an all-new Liquid security token, the Blockstream Mining Note (BMN), on STOKR. As an EU-compliant security token, the BMN offers investors an alternative investment opportunity to gain exposure to Bitcoin mining.
Each BMN token entitles investors to hashrate produced by Bitcoin miners at Blockstream’s colocation facilities. Through live performance reporting and tight on-site security, Blockstream is the only mining colocation provider that can meet the largest financial institutions’ requirements worldwide.
“The BMN leverages our extensive experience in the Bitcoin mining space and offers investors up-front, fixed rates with improved tradability,” explained Dr. Adam Back, CEO at Blockstream. “By expanding investor participation in Bitcoin’s proof-of-work, the BMN also strengthens Bitcoin’s security and censorship resistance. It’s a win-win.”
BMN allows investors to mitigate risk beyond a traditional investment in physical mining infrastructure; by more easily adjusting their exposure to Bitcoin mining by packaging mining in a tradable token.
Issuance
STOKR, an EU-based digital investment marketplace for alternative assets, will host the BMN security token offering, issuing the tokens in successive fungible tranches. The first tranche is confirmed to go on sale on April 7th, 2021, for a sum of at least €12.5 million with a 36-month term.
The offering is open to non-US qualified investors with a minimum investment of €200,000, or the equivalent in Bitcoin (BTC), Liquid Bitcoin (L-BTC), or Tether (USDt). BMN mining operations are estimated to begin by the end of 2021Q2. Subsequent tranches will be issued from mid 2021Q3 on a monthly basis for the following 12 months.
“Blockstream is a leader in Bitcoin protocol and infrastructure development and has been a driving force in the Bitcoin mining ecosystem,” said Arnab Naskar, co-founder of STOKR. “At STOKR, we’re proud to empower investors in various countries to actively support Blockstream’s efforts and take part in its Bitcoin mining activities.”
To gain access to the BMN security token offering, eligible investors can register here.