New Hampshire is about to do something no state has ever done: put Bitcoin behind a municipal bond. The state’s lawmakers and Executive Council are set to review a $100 million Bitcoin-backed bond issuance at a public hearing on July 8, 2026, a move that could fundamentally reshape how governments interact with digital assets.
The hearing will take place before Governor Kelly Ayotte and the five-member Executive Council, representing the final approval hurdle after the New Hampshire Business Finance Authority board gave its endorsement back in November 2025. If this gets the green light, it becomes the world’s first Bitcoin-backed municipal bond.
How the bond actually works
The bonds will be secured by $160 million worth of Bitcoin collateral, creating a 160% over-collateralization ratio. The bond includes a mandatory liquidation clause: if the Bitcoin coverage ratio drops below 140%, the collateral gets liquidated automatically.
The proceeds from the bond will finance Bitcoin acquisitions by CleanSpark, a publicly traded Bitcoin mining company. BitGo, one of the largest digital asset custodians in the industry, will handle custody of the collateral. The bond carries a 2029 maturity date.
