Bitcoin mining can require large upfront investments in specialized hardware and facilities. The Blockstream Mining Note (BMN) lowers the barrier to entry for qualified investors, providing exposure to Bitcoin mining through a simple token purchase.
In addition, by securitizing the hash rate on the Liquid Network, investors can adjust their exposure to Bitcoin mining based on market conditions by trading the BMN tokens on the secondary market.
Important: This token is only available on the Bitfinex Securities platform and not the Bitfinex exchange.
Useful links
Blockstream Mining Note (BMN) — Frequently Asked Questions (FAQ)
— What is the minimum/maximum amount of BMN that can be deposited?
- Users can deposit BMN in units as small as 0.01 BMN;
- There is no maximum deposit.
— What is the minimum/maximum amount of BMN that can be withdrawn?
- If the combined balance of your green wallet and your withdrawal amount is >= 1 BMN, withdrawals as small as 0.01 BMN can be facilitated;
- If your green wallet balance is 0, only withdrawals >= 1 BMN can be facilitated.
— Who can participate in primary issuances?
- Any investor able to purchase >= 1 BMN.
— Who can participate in secondary trading?
Individual Investors
- Investors that buy 1 BMN in the primary issuance;
- Buyers who purchase >= $100k BMN in the secondary market or deposit >= $100k BMN;
- Sellers in any size. Sellers with a balance < $100K will have orders auto-converted to fill-or-kill.
Note: A Fill or Kill (FOK) Order is an order that must be filled immediately in its entirety, at a specific price or better, or it is canceled.
Corporate Investors
- Not subject to minimum wallet balances.
Important: Qualified investors from the Issuer-permitted countries are allowed to participate in primary issuances and secondary trading.
— What is the minimum ticket size for participation in primary issuances?
- 1 BMN
— What is the minimum tradable unit?
Individual Investors
- If the user’s Bitfinex BMN wallet balance is >= $100K, users can buy and sell BMN in increments of 0.00001 BMN;
- If the user’s Bitfinex BMN wallet balance is < $100k, Buyers can only place orders equal to the difference between their wallet balance and $100k, orders will be auto-converted to fill-or-kill;
- Sellers with a Bitfinex BMN balance < $100K can sell in any size but will have all orders auto-converted to fill-or-kill.
Corporate Investors
- Not subject to minimum wallet balances and can place orders in increments of 0.00001 BMN.
— What order types will be supported initially?
- All spot order types. In some situations, fill-or-kill will be enforced.
— What is the minimum wallet balance to participate in secondary trading?
- If the user’s Bitfinex BMN wallet balance is >= $100K, users can buy and sell BMN in increments of 0.00001 BMN;
- If the user’s Bitfinex BMN wallet balance is < $100k, Buyers can only place orders equal to the difference between their wallet balance and $100k, orders will be auto-converted to fill-or-kill;
- Sellers with a Bitfinex BMN balance < $100K can sell in any size, but will have all orders auto-converted to fill-or-kill.
Corporate Investors
- Not subject to minimum wallet balances and can place orders in increments of 0.00001 BMN.
— What are trading and withdrawal fees?
- No withdrawal fees. Trading fees will be standard Bitfinex trading fees.
— What trading pairs will be supported?
- USD and BTC
— What will pricing be for the first issuance?
- €270,000
If you have any questions please feel free to contact Bitfinex Support for further assistance.