Blockstream announced the release of its new Blockstream Mining Note 2 (BMN2) token, backed by Bitcoin mining hashrate, as part of its fundraising efforts.
Introduction of New BMN2 Token
Blockstream has issued a new token, BMN2, backed by Bitcoin hashrate according to a September 5 announcement. BMN2 is designed to provide direct exposure to the hashrate operated by Blockstream's enterprise-grade mining facilities across North America.
Token Release Details and Pricing
Priced at $31,000 per token, each BMN2 represents a 48-month claim on one petahash per second (PH/s) of Blockstream's hashrate. This means buyers gain four-year claims on the proceeds from Blockstream's mining operations in exchange for upfront funding. The current market value for hashrate exceeds $40, significantly higher than the price offered by Blockstream.
Previous Releases and Performance
This marks the third issuance of BMN2. The first issuance in July raised nearly $7 million. In 2021, Blockstream issued the BMN1 token, which returned 32% BTC over its 3-year term. BMN2 is designed to comply with European Union regulations and is available only to qualified investors outside of the United States.
Blockstream continues to expand its Bitcoin mining investment products, offering new opportunities for qualified investors.
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