TechFlow news — Bitcoin infrastructure company Blockstream is seeking to raise up to $50 million to purchase undervalued mining equipment on the secondary market and store it. In partnership with Luxembourg-based digital securities platform STOKR, the company has launched the Blockstream ASIC (BASIC) note.
James Macedonio, Blockstream's head of mining sales, said the company will initially raise $5 million for Series 1 of the BASIC notes, with each note priced at $115,000, to fund large-scale purchases of ASIC equipment and storage facilities. These devices will be redeployed into the market as hardware demand rebounds in 2024. The 24-month investment note will be available to accredited international investors.
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