Blockstream raises $16M for its Bitcoin mining STO in a matter of hours

Blockstream, a major blockchain technology company, has successfully completed six tranches for its Bitcoin (BTC), mining security token offering. (STO), which secured a total amount of 30.9 million euros ($36,000,000).

Blockstream announced Thursday that it raised 13.9 Million Euros ($16.1 Million) in its sixth tranche of Blockstream Mining Note (BMN), a security token that focuses on Bitcoin mining.

The announcement stated that the most recent raise by Blockstream was the largest ever, indicating increasing interest from institutional and individual investors. This raise increases the total BMN supply by more than 122 and the total number to 70 investors.

Blockstream introduced the BMN security token in March 2021. This offers non-US qualified investors an option to mine Bitcoin or invest in Bitcoin mining stocks using the associated hashrate of BMN. Each BMN1 is issued on the Liquid Sidechain of Bitcoin and entitles investors up to 2,000 terahashes every second of Bitcoin mined at Blockstream’s enterprise-grade mining facility.

The BMN token is available for trading with qualified investors. It will deliver associated BTC to the BMN holder at maturity of a 3-year term, which runs from July 2021 through July 2024.

Similar: Germany approves a Bitcoin-based security token offer

This news comes as Blockstream is preparing to list the BMN security token it owns on Bitfinex Securities. Bitfinex Securities is a new STO platform that Bitfinex cryptocurrency exchange has created. It’s regulated in Kazakhstan’s financial hub, Astana International Finance Center. As Bitfinex Securities launches, BMN will be one of the first assets to be listed on the new platform.

https://cointelegraph.com/news/blockstream-raises-16m-for-its-bitcoin-mining-sto-in-a-matter-of-hours