BIT Mining (NYSE: BTCM) Invests in Prosper’s Native Tokens to Support New Focus on Bitcoin Mining

Cayman Islands, Cayman Islands, November 14th, 2024, Chainwire

Prosper, a decentralized protocol bridging institutional-grade Bitcoin mining power on-chain and aiming to unlock the potential of Bitcoin through liquidity farming, today announced a new investment in its native project token PROS by one of the leading cryptocurrency mining companies BIT Mining Limited (NYSE: BTCM).

Prosper's new strategic focus on Bitcoin mining and the broader Bitcoin ecosystem has been well-received by the community. As part of this strategic change, Prosper partners with prominent industry players to obtain various services and products to deliver institutional-grade execution in managing its mining hashrate.

This investment from BIT Mining represents another significant validation of Prosper’s thesis by institutional backers. In addition to Prosper's growing roster of top-tier industry partners and sophisticated financial investors (including a recently announced investment by Waterdrip Capital), Prosper’s value proposition also resonates with cryptocurrency mining companies that bring extensive experience in mining operations and a strong understanding of the ecosystem. This investment aligns with Prosper’s strategic direction and supports its new vision.

About BIT Mining Limited

BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company with operations in cryptocurrency mining, data center operation, and mining machine manufacturing. The company is strategically creating long-term value across the industry with its cryptocurrency ecosystem. Anchored by its cost-efficient data centers that strengthen its profitability with steady cash flow, the company also conducts self-mining operations that enhance its marketplace resilience by leveraging self-developed and purchased mining machines to seamlessly adapt to dynamic cryptocurrency pricing. The company also owns 7-nanometer BTC chips and has strong capabilities in the development of LTC/DOGE miners and ETC miners.

About Prosper

Prosper is a decentralized protocol for a community that truly believes in Bitcoin, providing full exposure across Bitcoin hashrate and Bitcoin through bridging institutional-grade Bitcoin mining power on-chain, and aims to fully unlock the potential of Bitcoin. For more information, users can visit prosper-fi.com or follow on X (formerly Twitter).

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This article was originally published on Chainwire

Source: Investing.com