Omnes and Apex Group are launching a tokenized debt note tied to Bitcoin mining on Base, Coinbase’s Ethereum layer‑2 network. Called the Omnes Mining Note (OMN), the product packages Bitcoin hashrate exposure into an onchain financial instrument that will be issued and managed on Base for approved investors outside the United States.
Structured as a secured debt note backed by Bitcoin hashrate, the OMN aims to give investors economic exposure to new Bitcoin production without the need to run mining hardware, source power, or manage facilities. Apex describes the note as delivering institutional investors “direct economic exposure to new Bitcoin production measured in hashrate,” while leaving operational complexity to the issuer.
Hashrate — the computing power used to secure the Bitcoin network and create new coins — is the reference metric for the instrument. The OMN combines a familiar debt-note structure with blockchain-native transferability: approved investors will be able to transfer the note onchain within a regulated framework, rather than moving raw tokens that represent mined Bitcoin.
Omnes CEO Emmanuel Montero said, “Bitcoin mining is the only mechanism that creates new Bitcoin through protocol issuance,” distinguishing the product from yield strategies that rely on existing circulating Bitcoin.
The announcement leaves several key details unspecified. The issuers have not fully explained how hashrate performance will convert into investor returns, nor disclosed full liquidity terms or the note’s risk profile—information important for evaluating returns under shifting mining economics and broader market conditions.
The OMN launch comes as tokenized real-world assets (RWAs) expand on public chains. According to DeFiLlama data on March 11, tokenized RWAs on public blockchains reached roughly $23.6 billion, up about 66% since the start of the year, with an onchain market cap near $23 billion. By linking a structured debt note to mining output, OMN introduces a new RWA category tied specifically to Bitcoin production.