Bitcoin miningBlockstreamBusinessSecurity Tokens

Blockstream Launches Bitcoin Mining Hash Rate Token

Blockstream has announced the launch of Blockstream Mining Note, a Liquid-based security token that tokenizes its bitcoin mining hash rate.Today, Bitcoin infrastructure firm Blockstream announced the launch of a Liquid-based security token called Blockstream Mining Note (BMN), envisioned as a way to give investors exposure to Bitcoin mining.“Each BMN token entitles investors to hash rate produced by Bitcoin miners at Blockstream’s colocation facilities around the globe,” according to a Blockstream press release shared with Bitcoin Magazine. “The BMN allows investors to mitigate risk beyond the scope of a traditional investment in physical mining infrastructure by more easily adjusting their exposure to Bitcoin mining by packaging mining in a tradable token.”BMN will be offered through the EU-based security token marketplace STOKR in a series of fungible tranches. The first tranche will go on sale on April 9, open to non-U.S., qualified investors with a minimum investment of roughly $235,000 (200,000 euro). The offering is meant to give these investors exposure to bitcoin mining without the need to run their own infrastructure. As bitcoin the financial asset becomes more attractive to institutional investors, exposure to the critical practice of mining is doubtlessly growing more popular as well. “The BMN leverages our extensive experience in the Bitcoin mining space and offers investors up-front, fixed rates with improved tradability,” said Adam Back, Blockstream’s CEO, per the release. “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.”
Story continues on Bitcoin Magazine

Related posts
BusinessPaymentsPayPal

PayPal to Allow Crypto Payments for All 29 Million Merchants

After announcing active development on crypto payment solutions in July 2020, PayPal announced that it would allow U.S. consumers to pay with crypto at millions of merchants. PayPal Continues Crypto Trend PayPal customers can now use the cryptocurrency in their…
BusinessLawsuitLBRYSECSecurities

SEC Suing LBRY Over $11 Million Token Sales

The SEC is going after LBRY. SEC Suing LBRY  The Securities and Exchange Commission (SEC) has filed a lawsuit against LBRY.  The complaint relates to the company’s LBRY Credits (LBC), which are used to pay creators who upload digital content…
BankingCointelegraph.comJapanSecurity TokensSMTBSTO

Japanese bank Sumitomo Mitsui launches the country's first 'a-1' rated security token

Sumitomo Mitsui has partnered with Securitize to launch Japan’s first security token that complies with the country’s Financial Instruments and Exchange Act. Japan-based bank Sumitomo Mitsui Trust Bank, or SMTB, has launched its first asset-backed securities token in partnership with…