Blockstream raises $ 16 million for its bitcoin mining STO

Large 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 US dollars).

Blockstream officially announced on Thursday that the company had received $ 13.9 million.

Accordig to advertisement, the most recent increase was the largest tranche Blockstream has ever issued, indicating growing interest from private and institutional investors. The proceeds bring BMN’s total offering to more than 122 with a total of 70 investors.

Blockstream raises $ 16 million for its bitcoin mining STO
Blockstream raises $ 16 million for its bitcoin mining STO

Blockstream officially unveiled its BMN security token in March 2021, offering qualified non-US investors an alternative to mining Bitcoin or investing in Bitcoin mining stocks by mining BTC with the associated BMN hashrate.. Each BMN1 is issued on Bitcoin’s liquid sidechain and entitles investors to up to 2,000 terahashes per second of Bitcoin, which is mined in Blockstream’s mining facilities for companies.

The BMN token can be traded with other qualified investors and delivers BTC associated with the BMN holder after a three-year term from July 2021 to July 2024.

The news comes amid Blockstream as it prepares to list its BMN security token on Bitfinex Securities, a new STO platform of the Bitfinex cryptocurrency exchange regulated in Kazakhstan’s national financial center, Astana International Financial Center. With the launch of Bitfinex Securities, BMN will become one of the first assets to be listed on the new platform.

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