Blockstream针对比特币矿工推出BMN2挖矿票据，承诺32%回报

Blockstream 推出了第二轮挖矿票据 BMN2 的第 3 轮，现已向美国以外的合格投资者开放

Blockstream has launched the third round of its second Mining Note, offering investors an opportunity to gain exposure to Bitcoin mining at a discounted price.

Blockstream 推出了第三轮第二次挖矿票据，为投资者提供了以折扣价参与比特币挖矿的机会。

The BMN2 is priced at $31,000 per petahash per second (PH/s), a hash price of $21.23. Investors from previous rounds, who purchased at higher prices, will receive additional BMN2 to adjust for the price difference.

BMN2 的定价为每秒每 petahash (PH/s) 31,000 美元，哈希价格为 21.23 美元。前几轮以较高价格购买的投资者将获得额外的 BMN2 以调整价格差异。

The launch of BMN2 follows the first Mining Note, BMN1, which generated a 32% return over Bitcoin.

BMN2 的推出是继第一个挖矿票据 BMN1 之后推出的，BMN1 的回报率比比特币高出 32%。

BMN2 Details

BMN2 详细信息

The BMN2 is a hashrate-backed security token offering (STO) issued on Blockstream's Liquid Network through Luxembourg-based virtual asset service provider (VASP) Stokr. It provides 1 PH/s from Blockstream’s North American mining facilities for a four-year duration.

BMN2 是通过卢森堡虚拟资产服务提供商 (VASP) Stokr 在 Blockstream Liquid Network 上发行的算力支持的安全代币产品 (STO)。它从 Blockstream 的北美挖矿设施提供 1 PH/s，持续四年。

"Hashrate contracts are typically 30 days up to six months," said James Macedonio, Blockstream's Senior Vice President of Global Sales, and noted that contracts rarely exceed 12 months.

Blockstream 全球销售高级副总裁 James Macedonio 表示：“算力合约的期限通常为 30 天到 6 个月。”他指出，合约期限很少超过 12 个月。

BMN2 is available in 1 PH/s increments, which align with the industry standard for measuring hash price, and the note’s duration is set to correspond with Bitcoin’s four-year halving cycle.

BMN2 的增量为 1 PH/s，符合衡量哈希价格的行业标准，并且票据的持续时间设置为与比特币的四年减半周期相对应。

Macedonio stated that the goal is to secure a stable hash price for customers over the next four years, extending through the next Bitcoin halving event.

马塞多尼奥表示，目标是在未来四年内为客户确保稳定的哈希价格，直至下一次比特币减半事件。

The minimum investment for professional investors is $10,000, while non-professional investors must meet a $115,000 threshold.

专业投资者的最低投资额为10,000美元，而非专业投资者的最低投资额必须达到115,000美元。

Shares of the STO are fungible and can be traded in full or fractional units on secondary markets such as Bitfinex, SideSwap, and Merj Exchange.

STO 的股票是可互换的，可以在 Bitfinex、SideSwap 和 Merj Exchange 等二级市场上以全部或部分单位进行交易。

Macedonio noted that the BMN2 is competitively priced, with a 50% discount relative to the current hash price.

Macedonio 指出，BMN2 的价格具有竞争力，相对于当前的哈希价格有 50% 的折扣。

He explained that this would be more cost-effective than purchasing hashrate contracts on the open market.

他解释说，这比在公开市场上购买算力合约更具成本效益。

BMN1 Performance

BMN1 性能

The BMN1, which offered 2 PH/s over a 36-month period, mined 1,242 Bitcoin and delivered up to a 103% cash return while outperforming Bitcoin by 32%. Blockstream expects BMN2 to deliver similar results.

BMN1 在 36 个月内提供 2 PH/s，开采了 1,242 个比特币，现金回报率高达 103%，比比特币高出 32%。 Blockstream 预计 BMN2 也能提供类似的结果。

“We priced the BMN2 to a level at which we feel investors will get the same type of return,” Macedonio said.

Macedonio 表示：“我们将 BMN2 的定价定在我们认为投资者将获得相同类型回报的水平。”

He added that the BMN1 was sold at a 60% discount to the hash price at that time, and BMN2 is priced at a 50% discount to the current spot hash price. Future pricing will depend on the hash price at the time of issuance.

他补充说，BMN1 的售价比当时的哈希价格有 60% 的折扣，BMN2 的售价比当前现货哈希价格有 50% 的折扣。未来的定价将取决于发行时的哈希价格。

BMN1 investors rolling over into BMN2 will receive a 3% bonus in additional BMN2 securities.

BMN1 投资者转入 BMN2 将获得额外 BMN2 证券的 3% 奖金。

Distinct Features of Blockstream Mining Notes

Blockstream挖矿笔记的显着特点

Blockstream Mining Notes offer a unique option for investors to gain exposure to Bitcoin mining.

Blockstream Mining Notes 为投资者提供了参与比特币挖矿的独特选择。

Macedonio emphasized that Blockstream benefits from access to low-cost energy and competitively priced equipment, enabling the company to offer hashrate at a significantly lower price than others in the industry.

Macedonio 强调，Blockstream 受益于低成本能源和具有竞争力价格的设备，使该公司能够以比业内其他公司低得多的价格提供算力。

He pointed out that the BMN2 is priced similarly to hosting mining hardware at 4.5 cents per kilowatt-hour (kWh), whereas large customers generally pay around 6.5 cents/kWh.

他指出，BMN2 的定价与托管挖矿硬件类似，为每千瓦时 (kWh) 4.5 美分，而大客户通常支付 6.5 美分/kWh 左右。

BMN investors also avoid the complexities associated with purchasing and maintaining mining equipment, such as machine failures or power curtailment. Additionally, they do not face delays between their investment and the equipment going online.

BMN 投资者还避免了与购买和维护采矿设备相关的复杂性，例如机器故障或停电。此外，他们的投资和设备上线之间不会出现延迟。

Macedonio concluded by stating that he believes there is no comparable product on the market.

马塞多尼奥最后表示，他认为市场上没有类似的产品。