In a new development, Blockstream, a blockchain technology and Bitcoin infrastructure company, is targeting the ongoing surplus of Bitcoin miners with its Series 2 BASIC note. According to Blockstream CEO Adam Back, the year 2023 presents a unique investment opportunity due to the doubling of Bitcoin’s price and the low prices of ASIC miners on secondary markets.
The article highlights that the Series 2 BASIC note is a way for investors to gain exposure to Bitcoin mining without having to buy and maintain their own mining hardware. By investing in the BASIC note, investors can benefit from the potential profitability of Bitcoin mining without the hassle and cost of setting up and maintaining a mining operation.
The article further mentions that the Bitcoin mining landscape has undergone significant changes in recent years. Due to the increased competition and the introduction of more powerful ASIC miners, many smaller mining operations have been forced to shut down. This has resulted in a surplus of mining equipment available on secondary markets, driving down prices and making it an opportune time for investors to enter the mining space.