TL;DR:
Maestro, the Bitcoin infrastructure company, launched Mezzamine, a BTC-denominated credit market backed by mining production. The initiative connects institutional Bitcoin holders with miners in need of capital, offering yield generated directly from mined blocks rather than protocol incentives or leveraged strategies.
The program was launched in partnership with Sazmining, a mining-as-a-service provider operating with hydroelectric plants and other carbon-free energy sources. The credit tools aim to generate an annual yield of between 8% and 9% for institutional investors. The minimum allocation is $100,000 in Bitcoin, according to Suresh Rajan, Managing Director of Mezzamine.
Bitcoin mining companies typically operate with financial structures that leave them exposed during market downturns: their revenues are received in BTC, but their liabilities are frequently denominated in dollars. That gap forces many miners to overcollateralize their loans by as much as two times, raising the risk of liquidation when BTC prices move adversely.
Mezzamine eliminates the dollar margin call problem by denominating loans directly in Bitcoin. “A drop in Bitcoin’s price against the dollar does not trigger a margin call,” Rajan explained. He added that the built-in hedging vehicle within the structure generates gains in bear markets that can complement mining revenues.
The operating mechanism works as follows: miners that obtain financing through the platform use the capital to acquire additional ASIC hardware and expand their hash rate. A portion of the resulting block rewards is allocated to service the debt, while the remainder stays in the miner’s hands.
Marvin Bertin, co-founder and CEO of Maestro, summarized the product’s logic: “Every ten minutes new bitcoins are mined, and with Mezzamine BTC holders can earn and share block rewards with miners.”
The offering is aimed at institutional investors, corporate treasuries, asset managers, family offices and registered investment advisors. Maestro reported that it already records over 1,500 BTC in financing demand from qualified miners, including public and mid-sized operators exploring channels beyond conventional credit.
