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Deployments · platform by STOKR

PKH Mining Note 2 (PKH2) on STOKRNew

A three-year Luxembourg-law structured note issued by Peak Hodl S.à r.l. under the Securitisation Law of 22 March 2004 and distributed on STOKR as a security token on the Liquid Network. Proceeds fund a loan to an unnamed borrower in bitcoin mining; holders get a 10% monthly revenue share on the borrower's gross revenue, and notes are redeemed as the loan is repaid, with maturity on 3 September 2028. STOKR says it is collateralised by bitcoin mining hashrate; RWA.xyz describes it as over-collateralised by Blockstream Mining Note 2 (BMN2) through an on-chain pledge. Issued on 2 October 2025 to whitelisted professional investors (minimum $115,000), it grew to about $578 million after a January 2026 rollover from an earlier Peak Hodl note (PKB) and two loan increases, and stood at about $577 million in October 2026, held by three wallets.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since 2 Oct 2025[1][3] — Professional-investor note held by three wallets; closed for new investment. · Reviewed 12d ago

Assets
Structured note[1]
PKH2 notes funding a hashrate-collateralised loan
Networks
Liquid Network Public, permissioned[1][3]
Use cases
Primary issuance[1][3]Investment and trading[3]
Jurisdictions
Luxembourg

Participants

Assets

Metrics

  • $576.89mNotes outstanding (loan amount) · as of 27 Oct 2026 · on Liquid Networkcontext[3][2]
    Shown, not counted, pending decision 2026-10-27-leads-4: RWA.xyz says the note is over-collateralised by BMN2, which is already counted, so counting both may count the same mining value twice. STOKR gives the same loan amount after the 5 Aug 2026 repayment.
  • $578.25mIssuance amount · as of 4 Jun 2026[1]
  • 3 holdersHolders · as of 27 Oct 2026[3]

Timeline

  1. Happened 4 Jun 2026 · Scope expansion · recorded 27 Oct 2026
    Loan increased by $18.8m to about $578m.[2]
  2. Happened 2 Mar 2026 · Scope expansion · recorded 27 Oct 2026
    Loan increased by $30m to about $559m.[2]
  3. Happened 16 Jan 2026 · Scope expansion · recorded 27 Oct 2026
    About $120.6m rolls over from Peak Hodl's earlier PKB note, taking the loan to about $529m; offering documents updated.[2]
  4. Happened 2 Oct 2025 · Launch · recorded 27 Oct 2026
    PKH2 is issued on STOKR on the Liquid Network, maturing 3 September 2028.[1][3]

Sources

  1. [1]PKH Mining Note 2 | STOKR — STOKR. Accessed 27 Oct 2026. Platform product page: issuer Peak Hodl S.à r.l.; structured note under the Luxembourg Securitisation Law of 22 March 2004; issue date 2 Oct 2025; maturity 3 Sep 2028; 10% monthly revenue share on the borrower's gross revenue; collateralised by bitcoin mining hashrate; Liquid asset id 4eb459a5...7d00; minimum $115,000..B
  2. [2]PKH Mining Note 2 updates | STOKR — STOKR. Accessed 27 Oct 2026.B
  3. [3]PKH Mining Note 2 asset page — RWA.xyz. Accessed 27 Oct 2026. Supply 576,892,856 (data updated 27 Oct 2026), three holding addresses; describes a fixed-income note over-collateralised by BMN2 with an on-chain pledge; issuer Peak Hodl Sàrl (Luxembourg); administrator Baker Tilly Luxembourg Corporate Services; paying agent STOKR..A
  4. [4]PKH2 asset page (service providers) — RWA.xyz. Accessed 28 Oct 2026. Service-provider metadata on the RWA.xyz asset page (issuer, administrator, auditor, custodian, transfer agent); RWA.xyz data, not an issuer document..C

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