Crypto Mining, Cryptocurrency News, News

Blockstream Raises $16 Mln Funds In Few Hours For Its Bitcoin Mining STO.

Blockstream, a leading blockchain technology startup, has completed six tranches of its Bitcoin (BTC) mining security token offering (STO), raising a total of 30.9 million euros ($36 million).

Blockstream stated recently that it has raised 13.9 million euros ($16.1 million) in the sixth tranche of Blockstream Mining Note, a Bitcoin mining-focused safety token (BMN).

According to the statement, the most recent raise was Blockstream’s largest tranche ever, signaling increased interest from both individual and institutional investors. The increase raises the total BMN offer to more than 122, with a total of 70 customers.

In March 2021, Blockstream officially released its BMN security token, giving non-US qualified buyers an alternative to mine Bitcoin or investing in Bitcoin mining shares by mining BTC using the BMN hash rate. Every BMN1 rights customers to up to 2,000 Tera hashes per second of Bitcoin mined at Blockstream’s enterprise-grade mining services, which are issued on the Liquid sidechain of Bitcoin.

The BMN token will be traded with various approved purchasers, with the BMN holder receiving corresponding BTC upon maturity of a three-year period between July 2021 and July 2024.

The news comes as Blockstream prepares to list its BMN security token on Bitfinex Securities, a new STO platform operated by the Bitfinex cryptocurrency exchange and based in Kazakhstan’s national financial centre, the Astana International Financial Center. As Bitfinex Securities gets closer to launching, BMN is poised to become one of the first assets listed on the platform.

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