Blockstream Announces Launch of BASIC Note Series 2 After Successful $5 Million Series 1 Investment
Blockstream, a global leader in Bitcoin infrastructure, announced the launch of Series 2 of Blockstream ASIC (BASIC) Notes, a Bitcoin-denominated investment vehicle, according to a press release sent to Bitcoin Magazine. This follows the success of Series 1, which saw greater than expected investor demand.
In Series 1 Phase, which began in September 2023, Blockstream allocated a total of $4.876 million to procure the Antminer S19k Pro ASIC miner, significantly exceeding the expected target of $5 million. Known for their efficiency, boasting a hashrate of 120 Th/s (23 J/T), the selection of these miners is in line with Blockstream’s commitment to securing the most efficient equipment in the Bitcoin mining market.
“The strong response to BASIC Note Series 1 highlights the growing interest in Bitcoin-focused investments,” said Dr. Adam Back, CEO and co-founder of Blockstream. “We are leveraging this momentum with Series 2 to provide U.S. investors with strategic entry into the Bitcoin ASIC market with a Bitcoin-based product. “Our focus on efficient miner acquisition and strong industry relationships uniquely positions us for the upcoming 2024 halving and beyond.”
Blockstream’s Series 1 partnership continues in Series 2 with Luxembourg-based STOKR, a leading digital securities platform specifically targeting qualified non-U.S. investors. The company’s focus on securing the most efficient miners sets the stage for the impending 2024 halving, with the goal of providing a strategic advantage to investors.
According to the release, ASIC price ratios remain attractive for Series 2 at a price below typical direct manufacturer pre-order prices per TH under standard market conditions. Blockstream’s strong relationships with leading ASIC producers and brokers within the Bitcoin mining ecosystem, particularly Sunnyside Digital, have enabled it to significantly reduce machine purchase costs.
Although Series 2’s exact financial targets have not yet been disclosed, Blockstream encourages non-U.S. investors interested in the BASIC Note Series 2 to register their interest for more information.
More information about the BASIC Note series can be found here.
