Blockstream Raises $5M and Plans to Acquire New ASIC Miners
Bitcoin timechain technology firm Blockstream has successfully completed its Series 1 Blockstream ASIC (BASIC) Note raise, securing an impressive $5.07 million. A significant portion of this amount will be used to acquire new ASIC miners.
Acquisition of ASIC Miners
Blockstream plans to deploy $4.87 million towards buying new Antminer S19k Pro ASIC miners. The remaining funds will cover associated costs. The quoted price for the acquisition has been secured through Blockstream’s partnership with SunnySide Digital.
Attractive Opportunity for Investors
Blockstream notes a 9.25% increase in the price of ASIC miners, making the BASIC Note an attractive opportunity for investors. The BASIC Note series is a Bitcoin-denominated investment vehicle that allows investors to capitalize on low ASIC miner prices to generate a Bitcoin-on-Bitcoin return on investment.
Series 2 Announcement
In addition to the successful Series 1 raise, Blockstream announced the deployment of its second Note series, Series 2. This fundraising will take place on the Luxembourg-based digital assets securities platform STOKR in the coming weeks. Similar to the first series, Series 2 provides users with entry points into the undervalued Bitcoin ASIC marketplace.
The Rationale Behind BASIC Note
ASIC miner prices tend to shift based on Bitcoin price cycles. The BASIC Note strategy enables investors to leverage Blockstream’s expertise in the ASIC mining field to tap into profitable positions through tokenized shares.
Targeting Non-US Investors
Series 2 is focused on bringing non-US investors into the crypto space due to regulatory clarity concerns in the US. The minimum investment threshold remains the same as Series 1, requiring investors to post $115,000 or an equivalent value in Bitcoin, Liquid Bitcoin, or USDT stablecoin.
Hot Take: Blockstream Raises $5M for ASIC Miners
Blockstream has successfully raised $5.07 million in its Series 1 Blockstream ASIC (BASIC) Note raise. The company plans to use a significant portion of this amount to acquire new ASIC miners. With a 9.25% increase in the price of ASIC miners, the BASIC Note presents an attractive opportunity for investors to generate a Bitcoin-on-Bitcoin return on investment. Blockstream has also announced the deployment of its second Note series, Series 2, which will provide users with entry points into the undervalued Bitcoin ASIC marketplace. This fundraising will target non-US investors and maintain the same minimum investment threshold as Series 1.
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