Bitcoin infrastructure firm Maestro has launched a Bitcoin-native credit market called Mezzanine in partnership with mining provider Sazmining. The program allows institutional Bitcoin holders to deploy their BTC into mining-backed credit facilities, targeting an annual yield of 8-9% by connecting them with miners seeking capital for expansion. The offering is designed to reduce traditional financing risks for miners by using Bitcoin-denominated loans backed by mining economics rather than dollar debt.
Bitcoin infrastructure provider Maestro has launched a Bitcoin-denominated credit market backed by mining economics. The program, Mezzanine, went live in partnership with mining-as-a-service provider Sazmining.
Institutional Bitcoin holders can deploy BTC into mining-backed credit facilities targeting an annual yield of 8% to 9%. The offering connects miners seeking capital with institutional holders looking for BTC-denominated yield.
Marvin Bertin, Maestro’s co-founder and CEO, stated “New Bitcoins are mined every 10 minutes, and with Mezzamine BTC holders can earn and share block rewards with miners.” The credit market is tied to mining expansion rather than protocol staking rewards.
Bitcoin mining firms often face limited financing options, typically relying on dollar-denominated debt. This structure can leave operations more exposed during sharp market downturns as revenue is earned in Bitcoin.
The credit facility includes bear-market protection features like hedging tied to Bitcoin prices. Miners may face higher financing costs in stronger markets for greater stability during downturns.
The offering targets institutional investors, corporate treasuries, and asset managers. Suresh Rajan, Mezzamine’s managing director, stated the minimum allocation is $100,000 worth of Bitcoin.
Yield is derived directly from mining production, without additional token incentives. Miners use capital to buy additional ASIC hardware, with part of the block rewards servicing the credit facility.
Bitcoin-denominated loans reduce miner liquidation risks compared to traditional financing. Rajan explained, “A decline in Bitcoin’s price against the dollar does not trigger a margin call.”
He added that with the hedged vehicle, “the hedge actually returns profits in bear markets that can supplement mining revenue.” The loan performs according to mining economics, not currency markets.
Maestro has seen more than 1,500 BTC in borrowing demand from qualified mining operators. This includes public miners and mid-sized operators exploring alternative financing.
Sazmining describes itself as a Bitcoin mining-as-a-service provider relying on carbon-free energy. Its operations use hydropower and other sustainable sources.
