Prosper Acquires 7,000 ASIC Miners from BITMAIN and Secures Strategic Funding to Democratize Bitcoin Mining

Dubai, United Arab Emirates, December 13th, 2024, Chainwire

Prosper, a decentralized protocol democratizing access to Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate as omnichain real-world assets (RWA), today announced the acquisition of over 7,000 ASIC miners from BITMAIN along with the successful closing of its strategic funding round.

Backed by Metalpha, Waterdrip Capital, BIT Mining , Animoca Brands, and more, Prosper has procured the new ASIC miners from BITMAIN to bring institutional-grade execution quality to its protocolProsper aims to expand its underlying Bitcoin hashrate capacity to accelerate the flywheel of DAO-owned hashrate and Bitcoin treasury operations & democratise access to institutional-grade miningFollowing the announcement of Prosper’s long-term partnership and hosting service agreement with BITMAIN, the world’s leading manufacturer of digital currency mining servers, this landmark purchase marks an instrumental step in Prosper’s mission to provide institutional-grade reliability to its mining ecosystem. By leveraging BITMAIN’s cutting-edge products, Prosper enhances the value delivered to its $PROS token holders, further distinguishing itself as the premier Web3 Bitcoin mining protocol backed by leading industry players.

“Bitcoin brought about a fundamental shift in finance by democratizing an economic system in its entirety with blockchain technology. Prosper follows the footsteps of Bitcoin’s core ethos by democratizing access to Bitcoin hashrate, the underlying layer powering Bitcoin-through blockchain technology. This layer of community governance and ownership afforded by blockchain allows Prosper to scale its flywheel of both Bitcoin hashrate and treasury operations while simultaneously helping to ensure that Bitcoin mining layer is sufficiently decentralized to maintain Bitcoin’s status as the most recognized digital reserve currency. ” said Milton Lam, Prosper Advisory Council Member.Prosper’s Latest Development

1 EH/s of hashrate procured and ready to fully go live (with 250 PH/s live on Prosper’s dApp already)Access to pipeline capacity of 170MW with the mid-term goal of adding another 5 EH/sMore than 2 BTC rewards given out to $PROS holders since NovemberAccess to more than 200 BTC to be delegated by launch partners to the DAO to unlock TVL opportunities for $PROS holdersStrategic Round Closure: Strengthening the Bitcoin Ecosystem

In addition to its BITMAIN partnership, Prosper announced the closure of its strategic funding round, which saw participation from prominent industry players and financial investors, including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. Earlier in October, Animoca Brands also disclosed its intention to purchase $PROS tokens from the open market.

These investments demonstrate the strong confidence in Prosper’s vision of bridging institutional-grade Bitcoin mining power on-chain and its innovative approach to Bitcoin liquidity farming. The involvement of these strategic partners brings crucial industry expertise and networks to support Prosper’s operations as it scales.

Positioning Prosper for Growth

Prosper’s tokenomics adopts a unique design to ensure hashrate-per-token will only increase and be accretive to $PROS holders.Prosper’s DAO leverages a unique flywheel model with both hashrate and Bitcoin treasury operations - all governed by and for the benefits of $PROS holders.Institutional-grade hashrate generates Bitcoin on an ongoing basis, part of which is rewarded to holders for their active participation, and remaining goes to the DAO treasury.DAO’s treasury Bitcoin can be directed towards TVL opportunities with ecosystem partners such as Bitcoin L2 to generate benefits for $PROS holders and the DAO.Growth in DAO treasury value and $PROS adoption allows the protocol to further expand underlying hashrate and enhance protocol resilience.By combining institutional-grade Bitcoin mining hashrate, a decentralized protocol design backed by strong fundamentals, and an extensive network of strategic partners, Prosper is well-positioned to solidify its status as the flagship decentralized Bitcoin mining protocol.

About Prosper

Prosper is a decentralized protocol for a community that truly believes in Bitcoin, providing full exposure across Bitcoin hashrate and Bitcoin through tokenizing institutional-grade Bitcoin hashrate as omnichain RWA, 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