Blockstream Completes $5M Series 1 Raise, Set for Acquisition of New ASIC Miners Leading Bitcoin timechain technology firm
Blockstream has announced the successful completion of its Series 1 Blockstream ASIC (BASIC) Note raise, securing an impressive $5.07 million. A significant portion
of this amount is scheduled for the acquisition of ASIC miners. According to Blockstream,
$4.87 million would be deployed towards buying new, boxed Antminer S19k Pro ASIC miners, with the remaining funds allocated to cover associated costs. The quoted price for the acquisition
has been secured and will be facilitated through Blockstream’s partnership with SunnySide Digital. Blockstream noted a 9.25% increase in the price of ASIC miners, given the proportionate appreciation in the value of Bitcoin. T
his makes the BASIC Note an attractive opportunity for investors. The BASIC Note series is a Bitcoin-denominated investment vehicle, enabling investors to capitalize
on the potential upside of low ASIC miner prices to generate a Bitcoin-on-Bitcoin return on their investment.
