On March 29, the Canadian blockchain technology company announced the release of a security token supported by the company’s mining operations.
It provides an alternative to investing in Bitcoin mining, as the company gives investors outside the US access to Bitcoin mining through a Blockstream Mining Note security token. BMN represents 2000 terhashaha per second of hashish of Blockstream mining objects.
Bitcoin recovered for BMN will be stored in cold storage for a period of three years and will be transferred to the final token holders at the end of this time period.
Blockstream plans to start mining for BMN by July 9, and the next chipset is expected to be released in the third quarter of this year.
BMN Security Token, or STO, will be offered on STOKR, the European alternative market for investing in digital assets. The first tranche of security tokens will be offered from April 7 at a price of around $ 240,000 per share, which is also a minimum investment.
In an announcement posted on the Blockstream website, CEO Adam Buck and Chief Information Officer Chris Cook highlighted the benefits of accessing a security token versus investing in a mining infrastructure:
“Incorporating mining into a tradable symbol gives BMN investors greater flexibility than traditional investments in physical mining infrastructure – investors can more easily regulate bitcoin mining exposure by trading BMN in secondary markets.”
“By expanding investor participation in Bitcoin validation, BMN is also working to strengthen Bitcoin’s security and resistance to censorship. This is a win-win situation for investors and the wider network,” the statement said.
Participating in bitcoin mining has been a profitable option for many investors. Cointelegraph reported on March 22 that the shares of the four largest listed mining companies increased 5,000% in the last 12 months, compared to Bitcoin’s growth of 900% in the same period.