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Senior secured yield against vetted Bitcoin miners, paid in Bitcoin. ASIC collateral exposure is hedged delta-neutral for the life of the loan.
All yield figures are indicative BTC APY ranges, not guarantees. Actual returns vary by program, market conditions, and counterparty. Figures are net of fees and BTC-denominated. Past performance is not indicative of future results.

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How it earns

The vault lends against a miner’s ASIC fleet and future block rewards. Interest is paid in Bitcoin from the borrower’s block production, while the vault’s exposure to the underlying ASIC collateral is continuously hedged delta-neutral.

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How the loan is structured

Each program is built on the same structure:
  • Facility — a senior secured, first-lien facility extended to a single vetted Bitcoin miner.
  • Collateral — layered across pledged BTC reserves, the borrower’s ASIC fleet, and pledged future hashrate, all held as first-lien security.
  • Repayment — monthly principal-and-interest payments drawn directly from block rewards, over terms of 6–24 months.
  • Hedging — for the life of the loan, ASIC collateral exposure is hedged delta-neutral, sized dynamically to the outstanding balance.
  • Recovery waterfall — claims move senior to junior across pledged BTC, hedge profits, hardware, and infrastructure, set out in Dynamic hedging.

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Vetting and monitoring

Before a program launches, Mezzamine collects business documents from the miner and shares them with prospective lenders. Each program then passes the platform’s program-rigor standard — Monte Carlo modeling, historical stress tests, and daily monitoring once capital is accepted. Program status and repayment activity can be tracked in real time on the Mezzamine app and the Treasury app.

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Live performance

Check out the SmashFi × Sazmining case study — a program paying a fixed 9% BTC APY.

Mezzamine — the credit engine

This vault is powered by Mezzamine, Maestro’s miner-secured credit platform. For the full credit mechanics — collateral, loan lifecycle, borrower diligence, and program terms — see the Mezzamine documentation.

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Compliance & custody

Start onboarding

Participation begins with a conversation with the team — eligibility, KYC where required, then allocation.

Allocate via the Treasury app

For onboarded allocators — deposit into Mezzamine Credit directly from the Treasury app.
Maestro Institutional is operated by Go Maestro Inc. and is intended for accredited investors and qualified allocators only. Access is permissioned and subject to eligibility verification, with KYC required where a vault’s terms specify; it is not directed at retail investors. Bitcoin and Bitcoin-denominated yield products carry material market, counterparty, regulatory, and technology risks. Yield figures are net of fees and BTC-denominated; past performance is not indicative of future results. Custody options vary by vault and strategy; depending on the vault, investors deposit directly into vault contracts or through a qualified custodian (Anchorage Digital).