Large blockchain technology company Blockstream has completed six Bitcoin (BTC) Mining Security Token (STO) token offerings, securing a total of 30.9 million euros (36 million US dollars).
Blockstream officially announced Thursday that the company raised € 13.9 million ($ 16.1 million) in the sixth tranche of a Bitcoin mining-focused security token called the Blockstream Mining Note (BMN).
According to the announcement, the latest bull run is the largest Blockstream has ever released, indicating growing interest from private and institutional investors. This increase brings BMN’s total offering to over 122, bringing the total number of investors to 70.
Blockstr officially launched 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 at the appropriate hashrate from BMN. Each BMN1 is issued on Bitcoin’s liquid sub-chain and entitles investors to up to 2,000 terahashes per second of Bitcoin, which is mined at Blockstream’s corporate mining facilities.
BMN tokens can be traded with other qualified investors, with the associated BTC being distributed to BMN holders with a term of three years from July 2021 to July 2024.
Related: Bitcoin-based security token offering approved in Germany
The news comes as Blockstream prepares to list its BMN security token on Bitfinex Securities, a new STO platform of the Bitfinex cryptocurrency exchange regulated in the country’s national financial center, Kazakhstan, Astana International Financial Center. With the launch of Bitfinex Securities, BMN will be one of the first assets to be listed on the new platform.