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Blockstream Raises 13.9M Euros In The 6th Tranche Of Blockstream Mining Note

Blockstream, the major blockchain technology company, has raised 13.9 million euros ($16.1 million) in the sixth tranche of its Bitcoin mining-focused security token known as Blockstream Mining Note (BMN).

It has been reported that the latest raise was the largest tranche that Blockstream has ever issued, marking increasing interest from individual and institutional investors. The raise brings the total BMN supply to more than 122, with the total number of investors amounting to 70.

However, Blockstream officially introduced its BMN security token in March, offering qualified non-United States investors an alternative to mining Bitcoin or investing in Bitcoin mining stocks by mining BTC using the associated hash rate of BMN.

The report said that issued on the Liquid sidechain of Bitcoin, each BMN Series 1 entitles investors to up to 2,000 terahashes per second of Bitcoin mined at Blockstream’s enterprise-grade mining facilities. The BMN token can be traded with other qualified investors, delivering associated BTC to the BMN holder upon maturity of a three-year term from July 2021 to July 2024.

Thus, the news comes amid Blockstream preparing to list its BMN security token on Bitfinex Securities, a new STO platform by cryptocurrency exchange Bitfinex that is regulated in Kazakhstan’s national financial hub, the Astana International Financial Center. As Bitfinex Securities progresses with its launch, BMN is set to become one of the first assets listed on the new platform.

Source: Cointelegraph



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