Prosper acquires 7,000 ASIC miners from BITMAIN and secures strategic funding to democratize Bitcoin mining.

admin5 days ago

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

Prosper, a decentralized protocol that democratizes access to Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate into omnichain real-world assets (RWA), today raised 7,000 from BITMAIN with the successful closing of a strategic funding round. announced the acquisition of more than 100 ASIC miners.

Backed by Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands, and others, Prosper has procured new ASIC miners from BITMAIN, bringing institutional-grade execution quality to the protocol.
Prosper aims to expand native Bitcoin hashrate capacity to accelerate DAO-owned hashrate and the flywheel of Bitcoin treasury operations and democratize access to institutional-grade mining.

This landmark purchase follows Prosper’s announcement of a long-term partnership and hosting services agreement with BITMAIN, the world’s leading digital currency mining server manufacturer, and is a significant step in Prosper’s mission to bring institutional-level trust to the mining ecosystem. Prosper leverages BITMAIN’s cutting-edge products to enhance the value provided to $PROS token holders and further differentiates itself as the leading Web3 Bitcoin mining protocol supported by industry leaders.

“Bitcoin brought fundamental changes to finance by democratizing the entire economic system with blockchain technology. Prosper follows in the footsteps of Bitcoin’s core ethos by democratizing access to Bitcoin hashrate, the underlying layer that powers Bitcoin-based blockchain technology. These layers of community governance and ownership provided by the blockchain allow Prosper to scale the Bitcoin hashrate and flywheel of financial operations while also ensuring that the Bitcoin mining layer is sufficiently decentralized to establish Bitcoin as the most recognized digital reserve currency. Helps you maintain your position. said Milton Lam, Prosper Advisory Board member.

Prosper’s latest developments

It has a hashrate of 1 EH/s and is ready to be fully activated (Prosper’s dApp already has 250 PH/s enabled).
Approaching pipeline capacity of 170 MW with medium-term goal of adding 5 EH/s
Starting November, $PROS holders will receive 2+ BTC rewards
Access to 200+ BTC to be delegated to the DAO by launch partners to unlock TVL opportunities for $PROS holders

End of Strategic Round: Strengthening the Bitcoin Ecosystem

In addition to the BITMAIN partnership, Prosper announced that it has closed a strategic funding round with participation from prominent industry players and financial investors, including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. In early October, Animoca Brands also announced its intention to purchase $PROS tokens on the open market.

These investments demonstrate strong confidence in Prosper’s vision to bring institutional-grade Bitcoin mining capabilities on-chain and its innovative approach to Bitcoin liquidity farming. The involvement of these strategic partners helps support Prosper’s critical industry expertise and network as it expands its operations.

Prosperity Positioning for Growth

Prosper’s token economics adopts a unique design that ensures that the per-token hash rate grows and increases only for $PROS holders.
Prosper’s DAO utilizes a unique flywheel model with both hash rate and Bitcoin financial operations. All are managed for the benefit of $PROS holders.
Institutional-grade hashrate continuously generates Bitcoin, a portion of which is rewarded to holders for their active participation and the remainder goes to the DAO treasury.
The DAO’s vault Bitcoin could be directed to TVL opportunities with ecosystem partners such as Bitcoin L2 to generate benefits for $PROS holders and the DAO.
The increase in DAO treasury and the adoption of $PROS will allow the protocol to further expand its base hashrate and improve protocol elasticity.

Prosper is well positioned to solidify its position as the flagship decentralized Bitcoin mining protocol by combining institutional-level Bitcoin mining hashrate, a decentralized protocol design backed by strong fundamentals, and an extensive network of strategic partners. It is in

About Prosper

Prosper is a decentralized protocol for the community that truly believes in Bitcoin, tokenizing institutional-level Bitcoin hashrate into OmniChain RWA, providing full exposure to Bitcoin hashrate and Bitcoin in general. We aim to provide and fully utilize Bitcoin’s potential. For more information, visit prosper-fi.com or follow X (formerly Twitter).