The Blockstream Mining Note (BMN1) report provides insights into tokenized Bitcoin hashrate backed securities, offering professional investors a seamless way to participate in bitcoin (BTC) mining without operational complexity. Over its three-year term (2021-2023), BMN1 outperformed Bitcoin and traditional assets, delivering up to 103% fiat returns and consistently positive BTC gains.
The report highlights BMN1’s strategic alignment with Bitcoin’s halving cycles, its liquidity through secondary markets like Bitfinex Securities, Merj and SideSwap, and its advantages over traditional mining investments. Building on BMN1's success, BMN2 introduces improvements in accessibility and scalability, further expanding the opportunities for institutional, professional and high-net-worth investors in the bitcoin mining space.
By showcasing the benefits of transparency, investor protection, and regulatory compliance, the report underscores the growing role of tokenized securities in the alternative investment space.
Read the full report here.
Bitcoin price determines hashrate, or is it the other way around? In this entry, we dive into hashrates.


