Prosper enters into long-term agreement with BITMAIN to provide Bitcoin miner hosting services

George Town, Cayman Islands, November 15th, 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 that it has entered into a long-term hosting service agreement with BITMAIN, the world's leading manufacturer of digital currency mining servers through its brand Antminer.

Under the agreement, BITMAIN and its affiliates will provide hosting services for Prosper’s foundation-owned Bitcoin miners, bringing high-quality operational standards for $PROS token holders. The first batch of hashrate under this agreement is expected to come online throughout November via Antpool’s mining pool platform and accessible via Prosper’s v1 web app.

Earlier this quarter, Prosper announced a pivot in its strategic direction to focus on Bitcoin mining and unlock Bitcoin’s potential in liquidity farming. Prosper has entered into an agreement with BITMAIN to enhance execution quality for its miners and $PROS token holders. This also highlights Prosper’s value proposition as the only Web3 Bitcoin mining project that has secured multiple top-notch industry players as key service providers.

About BITMAIN

Since its foundation in 2013, BITMAIN is the world's leading manufacturer of digital currency mining servers through its brand ANTMINER, which has long maintained a global market share and leading position in technology, serving customers across over 100 countries and regions. The company's R&D center is situated in Singapore, and it has multiple branches and subsidiaries across the globe, including but not limited to Hong Kong, the United States, Malaysia, and the United Arab Emirates.

About Prosper

Prosper is a decentralized protocol for a community that truly believes in Bitcoin, providing full exposure across Bitcoin's value layers through bridging institutional-grade Bitcoin mining power on-chain, and unlocking the potential of Bitcoin through liquidity farming. For more information, users can visit prosper-fi.com or follow us on X (formerly Twitter).

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This article was originally published on Chainwire

Source: Investing.com