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 Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate as omnichain real-world belongings (RWA), as we speak 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 Mining, 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 increase 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 foreign money mining servers, this landmark buy marks an instrumental step in Prosper’s mission to offer 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 business gamers.

“Bitcoin led to a elementary 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 neighborhood 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 keep up Bitcoin’s standing as probably the most acknowledged digital reserve foreign money. ” mentioned Milton Lam, Prosper Advisory Council Member.

Prosper’s Newest Growth

• 1 EH/s of hashrate procured and able to totally go reside (with 250 PH/s reside on Prosper’s dApp already)
• Entry to pipeline capability of 170MW with the mid-term purpose 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 outstanding business 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 show 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 business experience and networks to assist Prosper’s operations because it scales.

Positioning Prosper for Development

• Prosper’s tokenomics adopts a novel design to make sure hashrate-per-token will solely improve 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 energetic participation, and remaining goes to the DAO treasury.
• DAO’s treasury Bitcoin will be directed in the direction of TVL alternatives with ecosystem companions akin to Bitcoin L2 to generate advantages for $PROS holders and the DAO.
• Development in DAO treasury worth and $PROS adoption permits the protocol to additional increase underlying hashrate and improve protocol resilience.

By combining institutional-grade Bitcoin mining hashrate, a decentralized protocol design backed by sturdy fundamentals, and an intensive 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 neighborhood that really believes in Bitcoin, offering full publicity throughout Bitcoin hashrate and Bitcoin by way of tokenizing institutional-grade Bitcoin hashrate as omnichain RWA, and goals to totally unlock the potential of Bitcoin. For extra info, customers can go to prosper-fi.com or observe on X (previously Twitter).

ContactProsper[email protected]

This text was initially revealed on Chainwire