Major blockchain technology company Blockstream has completed six tranches of its Bitcoin (BTC) mining security token offering (STO), securing a total of 30.9 million euros ($ 36 million).
Blockstream officially Announced On Thursday the company raised โฌ 13.9 million ($ 16.1 million) in the sixth tranche of its Bitcoin mining-focused security token known as the Blockstream Mining Note (BMN).
According to the announcement, the latest increase was the largest tranche Blockstream has ever issued, marking growing interest from individual and institutional investors. The increase brings BMN's total offering to more than 122, with a total number of investors amounting to 70.
Blockstream officially presented its BMN security token in March 2021, offering qualified non-US investors an alternative to Bitcoin mining or investing in Bitcoin mining stocks by mining BTC using the associated BMN hashrate. Issued on the Liquid sidechain of Bitcoin, each BMN1 entitles investors to up to 2,000 terahashes per second of Bitcoin mined at Blockstream's enterprise-grade mining facilities.
The BMN token can be traded with other qualified investors, delivering BTC associated with the BMN holder at the expiration of a three-year term from July 2021 to July 2024.
Related: Bitcoin-based security token offering approved in Germany
The news comes amid Blockstream preparing to list its BMN security token on Bitfinex Securities, a new STO platform by cryptocurrency exchange Bitfinex and regulated in the national financial center of Kazakhstan, the Astana International Financial Center. As Bitfinex Securities progresses with its launch, BMN will become one of the first assets included in the new platform.
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