Blockchain technology outfit, Blockstream has unveiled the successful completion of its Blockstream Mining Notes (BMN), through a Security Token Offering (STO). The Blockstream BMN STO offering is the 6th tranche and recorded the most impressive figures with $16 million generated in a few hours.
“Tranche six was the largest tranche issued to date at €13.9 million ($16.1 million) and drew interest from a wide range of individual and institutional investors. The completion of tranche six brings the total number of BMN1 issued to more than 122, the total number of investors to just shy of 70, and the total raised to €30.9 million (~ $36 million),” the official announcement detailed.
Blockstream’s BMN STO offers investors an avenue to mine Bitcoin at the company’s premium hashrate of 2,000 TH/s. The hashrate is equivalent to that recorded at the Canadian outfit’s enterprise-grade mining facilities. Each BMN1 asset entitles an investor to the defined hashrate, a mining speed that has yielded an average of 0.01561 BTC per day for a total of 1.67 BTC through a duration of 107 days.
Per the official announcement, investors can gain access to future tranches via STOKR. Additionally, investors will be able to acquire the BMN on Bitfinex Securities Ltd, a new and regulated security token platform. The trading of BMN tokens on the platform is billed to commence sometime in mid-Q4, and the tokens will be available to non-US investors.
Blockstream BMN STO: a New Option to Gain Exposure to Bitcoin
Investors around the world are notably getting more options to gain exposure to Bitcoin beyond the regular coin accumulation on spot exchanges.
While it may be extremely difficult to invest directly in a mining farm or to pull together the right amount of capital to invest in Bitcoin Exchange Traded Funds, though uncommon, STO offering from Blockstream comes off as a reliable alternative to gain direct exposure to Bitcoin.
As the broader digital currency ecosystem journeys onto mainstream adoption, investors will continually appreciate and embrace diverse investment alternatives. This can go as far as backing the publicly listed stocks of firms whose product offering is directly linked to Bitcoin or other digital currencies.
Per TheCoinRise report, the broad interaction of crypto investors is based on a guideline with notable contributions from industry participants.
