Adam BackBitcoin miningBlockstreamCointelegraph.comsecurity-tokenSTO

Adam Back unveils Blockstream’s new Bitcoin mining security token

Blockstream has announced the launch of a new security token backed by the company’s mining facilities.
Canadian-based Blockchain tech company Blockstream announced the launch of a security token backed by the company’s mining production on March 29. It offers an alternative to investing in Bitcoin mining stocks, with the company providing non-US qualified investors exposure to Bitcoin mining through the Blockstream Mining Note security token. BMN represents 2,000 terahash per second of hashrate from Blockstream’s  mining facilities.The Bitcoin mined for BMN will be held in cold storage for three years, and will be distributed to the final token holders at the end of that time frame. Blockstream plans to begin BMN mining operations by July 9, with the following tranches expected to be released in the third quarter of this year. See some more details (BMN is available to non-US qualified investors)— Adam Back (@adam3us) March 31, 2021
The BMN security token offering, or STO, will be held on STOKR, a European investment marketplace for alternative digital assets. The first tranche of security tokens will be on offer from April 7, and are priced at roughly $240,000 each, which is also the minimum investment. “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.” ⛏️— Blockstream (@Blockstream) March 30, 2021
In the announcement published on Blockstream’s website, CEO …
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