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

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

Prosper, a decentralized protocol democratizing entry to mining by tokenizing institutional-grade Bitcoin hashrate as omnichain real-world belongings (RWA), at this time introduced the acquisition of over 7,000 ASIC miners from BITMAIN together with the profitable closing of its strategic funding spherical.

• Backed by Metalpha, Waterdrip Capital, BIT , Animoca Manufacturers, and extra, Prosper has procured the brand new ASIC miners from BITMAIN to carry institutional-grade execution high quality to its protocol
• Prosper goals to develop its underlying Bitcoin hashrate capability to speed up the flywheel of DAO-owned hashrate and Bitcoin treasury operations & democratise entry to institutional-grade mining

Following the announcement of Prosper’s long-term partnership and internet hosting service settlement with BITMAIN, the world’s main producer of digital forex mining servers, this landmark buy marks an instrumental step in Prosper’s mission to supply institutional-grade reliability to its mining ecosystem. By leveraging BITMAIN’s cutting-edge merchandise, Prosper enhances the worth delivered to its $PROS token holders, additional distinguishing itself because the premier Web3 Bitcoin mining protocol backed by main trade gamers.

“Bitcoin caused a basic shift in finance by democratizing an financial system in its entirety with blockchain expertise. Prosper follows the footsteps of Bitcoin’s core ethos by democratizing entry to Bitcoin hashrate, the underlying layer powering Bitcoin-through blockchain expertise. This layer of group governance and possession afforded by blockchain permits Prosper to scale its flywheel of each Bitcoin hashrate and treasury operations whereas concurrently serving to to make sure that Bitcoin mining layer is sufficiently decentralized to take care of Bitcoin’s standing as probably the most acknowledged digital reserve forex. ” mentioned Milton Lam, Prosper Advisory Council Member.

Prosper’s Newest Growth

• 1 EH/s of hashrate procured and able to absolutely go dwell (with 250 PH/s dwell on Prosper’s dApp already)
• Entry to pipeline capability of 170MW with the mid-term objective of including one other 5 EH/s
• Greater than 2 BTC rewards given out to $PROS holders since November
• Entry to greater than 200 BTC to be delegated by launch companions to the DAO to unlock TVL alternatives for $PROS holders

Strategic Spherical Closure: Strengthening the Bitcoin Ecosystem

Along with its BITMAIN partnership, Prosper introduced the closure of its strategic funding spherical, which noticed participation from distinguished trade gamers and monetary traders, together with Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. Earlier in October, Animoca Manufacturers additionally disclosed its intention to buy $PROS tokens from the open market.

These investments exhibit the sturdy confidence in Prosper’s imaginative and prescient of bridging institutional-grade Bitcoin mining energy on-chain and its revolutionary method to Bitcoin liquidity farming. The involvement of those strategic companions brings essential trade experience and networks to help Prosper’s operations because it scales.

Positioning Prosper for Progress

• Prosper’s tokenomics adopts a novel design to make sure hashrate-per-token will solely enhance and be accretive to $PROS holders.
• Prosper’s DAO leverages a novel flywheel mannequin with each hashrate and Bitcoin treasury operations – all ruled by and for the advantages of $PROS holders.
• Institutional-grade hashrate generates Bitcoin on an ongoing foundation, a part of which is rewarded to holders for his or her lively participation, and remaining goes to the DAO treasury.
• DAO’s treasury Bitcoin could be directed in direction of TVL alternatives with ecosystem companions reminiscent of Bitcoin L2 to generate advantages for $PROS holders and the DAO.
• Progress in DAO treasury worth and $PROS adoption permits the protocol to additional develop underlying hashrate and improve protocol resilience.

By combining institutional-grade Bitcoin mining hashrate, a decentralized protocol design backed by sturdy fundamentals, and an in depth community of strategic companions, Prosper is well-positioned to solidify its standing because the flagship decentralized Bitcoin mining protocol.

About Prosper

Prosper is a decentralized protocol for a group that actually believes in Bitcoin, offering full publicity throughout Bitcoin hashrate and Bitcoin by means of tokenizing institutional-grade Bitcoin hashrate as omnichain RWA, and goals to completely unlock the potential of Bitcoin. For extra info, customers can go to prosper-fi.com or comply with on X (previously Twitter).

ContactProspercontact@prosper-fi.com

This text was initially printed on Chainwire