Blockstream Prepares to Launch Blockstream ASIC Series 2:
Bitcoin-focused technology and application development company, Blockstream, has successfully concluded the Series 1 of its Bitcoin mining hardware investment product, the Blockstream ASIC (BASIC) Note, surpassing the initial $5 million goal.
In concrete terms, the BASIC is designed as an investment vehicle aimed at generating profits from the value of ASIC mining equipment.
With a total fund of $5.075 million, a substantial portion, $4.876 million, was allocated to acquiring Antminer S19k Pro ASIC mining machines, highly efficient equipment in the field.
This initiative is part of a strategic effort to capitalize on the currently “historically low” prices of mining equipment in anticipation of the next Bitcoin mining rewards halving slated for 2024.
Blockstream Launches Second Series of Bitcoin Investment Vehicle
Building on this success, Blockstream has announced the imminent launch of the Series 2 of the BASIC Note.
Designed to provide non-US investors with a Bitcoin investment vehicle, this new series aims to tap into the ASIC market with a focus on “efficient acquisition of miners” and “investment returns in Bitcoin.”
“With Series 2, we aim to capitalize on this momentum by offering non-US investors a strategic entry point into the ASIC Bitcoin market through a Bitcoin-based product.” – Adam Black, CEO of Blockstream
The financial goal of this second series has not yet been revealed.
Blockstream intends to acquire and strategically store ASICs at attractive prices, and then sell them on the market at the opportune moment.
