Blockstream Tokenizes The Company’s BTC Mining Power

Blockstream tokenizes the company’s BTC mining power and will allow qualified investors to purchase portions of the BTC mining hash rate as we can see more in our latest BTC news.

Blockchain development company Blockstream tokenizes the BTC mining power according to the announcement earlier today, dubbed Blockstream Mining Note that will be backed by the company’s mining capabilities as the company added:

 “The Blockstream Mining Note (BMN) provides more flexibility than traditional investment in physical mining infrastructure by packaging BTC mining into a tradable Liquid BTC-based token.”

The goal of the company is to offer qualified investors that reside outside of the US, a way to allocate their capital in the BTC mining sector. Each token will represent 2000 terahashes each second which is a metric that quantifies Bitcoin’s Blockchain computation power right from the company’s facilities.

@Excellion was this your idea?

— Steve Hodl 🌕🍿 (@MrHodl) March 30, 2021

According to the announcement, the amounts of BTC will be mined for BMN and locked in the cold wallets for three years so after that time, the rewards will be distributed between the BMN holders. Blockstream also plans to launch a BMN mining operation by July 9, as Adam Back, the CEO, and Chris Cook the CIO explained:

 “Investors can more easily adjust their exposure to Bitcoin mining by trading the BMN on secondary markets. It’s a win-win for investors and the broader network.”

"BMN will entitle its holders to hash rate produced by #Bitcoin miners at #BlockstreamMining colocation facilities around the globe. As a security token, $BMN is subject to certain regulatory requirements and provides investors with legal recourse and high-level transparency." ⛏️ https://t.co/n9HyuWFTpF

— Blockstream (@Blockstream) March 30, 2021

The company’s BMN security token offering will be launched on the European investment marketplace STOKR and each BMN will be priced at 200,000 EUR which is the minimum investment for the participants. BMN will later be tradeable on other markets that don’t impose restrictions on their users:

 “The first €12.5 million (~$15 million) tranche is confirmed to go on sale on April 7th, 2021, with a 36-month term from the commencement of the BMN mining operations. The offering is open to non-US qualified investors with a minimum investment of approximately €200,000 (~0,000), or the equivalent in Bitcoin (BTC), Liquid Bitcoin (L-BTC), or Tether (USDt).
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As previously reported, The popular blockchain company Blockstream bought $25 million worth of MicroBT’s M30s BTC mining hardware. the company stated in an announcement that it plans to deploy the hardware across its various mining facilities that are located in the United States and Canada. Furthermore, Blockstream disclosed that it will allocate some of the mining equipment to a new mining facility that will be launched soon. .