Blockstream blockchain technology has completed six tranches of Bitcoin Security Token Offering (STO) for Bitcoin (BTC) mining, raising € 30.9 million ($ 36 million).

Blockstream officially announced on Thursday that the company has raised € 13.9 million ($ 16.1 million) as the sixth tranche of a Bitcoin mining-focused security token known as Blockstream Mining Note (BMN).

According to the announcement, the latest increase was the largest share Blockstream has ever issued, signaling heightened interest from both individual and institutional investors. As a result, BMN’s total supply exceeded 122, bringing the total number of investors to 70.

Blockstream officially unveiled its BMN security token in March, providing eligible non-US investors with an alternative to mining bitcoin or investing in bitcoin mining stocks by extracting BTC using a BMN-related hash rate. Released on the Bitcoin Liquid sidechain, each BMN Series 1 provides investors with up to 2,000 terahashes of bitcoins per second mined from Blockstream’s enterprise-level miners.

The BMN token can be traded with other qualified investors, and the associated BTC is provided to the BMN holder for a three-year period from July 2021 to July 2024.

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The news comes as Blockstream prepares to list its BMN security token on Bitfinex Securities, a new STO platform through the Bitfinex cryptocurrency exchange, regulated by Kazakhstan’s national financial center, the Astana International Financial Center. As Bitfinex Securities moves forward with the launch, BMN will be one of the first assets to be listed on the new platform.

Source: CoinTelegraph