Blockstream and STOKR Reunite to Launch Blockstream Mining Note 2 (BMN2) Following the Success of BMN1
Staff Writer • 2024-07-21
Luxemburg – Blockstream, a global leader in Bitcoin infrastructure technology, has once again partnered with Luxembourg-based digital asset marketplace STOKR to launch the Blockstream Mining Note 2 (BMN2), an EU-compliant hashrate-backed security token issued on the Liquid Network. This collaboration follows the highly successful Blockstream Mining Note 1 (BMN1). Expanding on BMN1's Success The initial Blockstream Mining Note, BMN1, set a high standard for tokenized mining investments, achieving up to 108% cash-on-cash returns over its three-year term. BMN1 also generated a gross 35% return, producing an additional 325 BTC beyond the invested amount, outperforming direct Bitcoin purchases on the spot market. In total, BMN1 will deliver more than 1,200 BTC to investors on Liquid, a Bitcoin layer-2 and sidechain purpose-built for asset issuance. BMN1 investors will have the opportunity to roll over their investments into BMN2, receiving a 3% bonus in additional BMN2 securities. Locking in Historically Low Hashprices with BMN2 Each BMN2 token entitles holders to the Bitcoin produced by 1 PH/s (petahash per second) of hashrate at Blockstream’s North American mining operations, offering a consistent stream of Bitcoin rewards directly linked to mining performance. With the Bitcoin mining market currently experiencing historically low hashprice levels, BMN2 allows investors to lock in a hashprice of $61.64 per PH/s for the 48-month term, presenting a strategic entry point into the market. The primary offering for BMN2 will go live on July 18, 2024, with a 48-month term at a price of US$ 90,000 per BMN2. The offering is open to non-US qualified investors with a minimum investment of $115,000 or $10,000 for professional investors, or the equivalent in BMN1, Bitcoin (BTC), Liquid Bitcoin (LBTC), Tether (USDT), USD, or EUR. BMN2 mining operations are expected to commence by September 2024. Innovative and Flexible Investment Opportunities BMN2 will be issued on STOKR, allowing it to be traded peer-to-peer and on secondary markets among other eligible investors, offering greater flexibility and liquidity than traditional mining investments. BMN1 was available for trading on SideSwap, Bitfinex Securities, and Merj Exchange, with an estimated trading volume of €18.23M over three years. Arnab Naskar, co-CEO and co-founder of STOKR, expressed pride in continuing the partnership with Blockstream, stating, “BMN2 builds on the success of BMN1, providing investors with a reliable and innovative way to participate in the Bitcoin mining ecosystem. BMN2 not only represents a significant investment opportunity but also contributes to the overall security and decentralization of the Bitcoin network.” Blockstream’s Expertise in Bitcoin Mining Leveraging Blockstream's enterprise-grade North American mining facilities, BMN2 investors will benefit from some of the world's most reliable mining operations, trusted by high-profile clients such as Fidelity and Foundry. Additionally, BMN2 will utilize more alternative power sources, with 72% coming from wind power, making it greener than its predecessor. Blockstream’s leadership in Bitcoin mining is well-established, rooted in CEO and co-founder Dr. Adam Back’s invention of the HashCash algorithm, a fundamental component of Bitcoin’s security architecture. Dr. Back commented, “The BMN2 represents a groundbreaking opportunity for investors to engage in North American Bitcoin mining without the challenges associated with running their own mining facilities. By leveraging our enterprise-level mining infrastructure and expertise, BMN2 offers a secure, transparent, and profitable investment vehicle compared to traditional mining investments.” About Blockstream Blockstream is the global leader in Bitcoin and blockchain infrastructure. The company is the technical provider of the Liquid Network, enabling trustless Bitcoin swap settlements and secure smart contracts while empowering financial institutions to tokenize assets. Blockstream Mining offers colocation services across multiple enterprise-class mining facilities. Blockstream’s Core Lightning implementation of the Lightning Network protocol is the go-to code for enterprise deployments on Bitcoin. Blockstream Jade is an open-source hardware wallet offering advanced security for Bitcoin and Liquid assets. Blockstream Green is the world’s most advanced consumer Bitcoin wallet. Founded in 2014, Blockstream has offices and team members distributed around the world. About STOKR STOKR is a leading digital investment platform helping asset managers, fund managers, and issuers tokenize and manage a diverse range of financial assets. STOKR’s platform simplifies entry into digital securities with a comprehensive suite of services, including dedicated investment structures, state-of-the-art technology infrastructure, and full-scale support in payments and compliance. Registered as a Virtual Assets Service Provider (VASP) with the CSSF in Luxembourg, STOKR ensures a reliable and trustworthy platform for all stakeholders, offering enhanced liquidity through integration with secondary markets.
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