Prosper bought 7,000 ASIC miners from BITMAIN and raised strategic investment to democratize Bitcoin mining

Prosper, a decentralized protocol that democratizes access to Bitcoin mining by tokenizing Bitcoin hashrate at the institutional level as real-world assets (RWA) on an omnichain, announced today that it has purchased more than 7,000 ASIC miners from BITMAIN with the successful closure of its strategic funding round.

• Prosper, supported by Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands, and more, has procured new ASIC miners from BITMAIN to bring enterprise-level application quality to its protocol.
• Prosper aims to expand the fundamental Bitcoin hashrate capacity to accelerate the operations of the DAO’s hashrate and Bitcoin treasury and democratize access to institutional-level mining.

Following the announcement of Prosper’s long-term partnership and hosting service agreement with BITMAIN, the world’s leading digital currency mining server manufacturer, this significant purchase marks an important step in Prosper’s mission of providing institutional-level reliability to its mining ecosystem. By leveraging BITMAIN’s latest technology products, Prosper is enhancing the value it offers to $PROS token holders and further distinguishing itself as a leading Web3 Bitcoin mining protocol supported by top industry players.

Milton Lam, a member of the Prosper Advisory Council, said, ‘Bitcoin has created a fundamental change in the financial field by democratizing an economic system entirely through blockchain technology. Prosper follows in the footsteps of Bitcoin’s fundamental ethos by democratizing access to Bitcoin’s underlying layer, Bitcoin hashrate, through blockchain technology. This community governance and ownership layer provided by the blockchain enables Prosper to scale both Bitcoin hashrate and treasury operations, while also helping to ensure that the Bitcoin mining layer is not centralized enough to maintain Bitcoin’s status as the most recognized digital reserve currency.’

Prosper’s latest development

• 1 EH/s hash rate has been procured and is ready to go live (250 PH/s is already live on Prosper’s dApp)
• Targeting to add 5 EH/s more in the medium term, reaching 170 MW pipeline capacity
• Since November, PROS holders have been rewarded with more than 2 BTC
• Access to over 200 BTC, which will be transferred to the DAO by launch partners to unlock TVL opportunities for $PROS holders

Strategic bull trap: Strengthening the Bitcoin ecosystem

In addition to the partnership with BITMAIN, Prosper announced the closing of a strategic financing round involving leading 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 from the open market. Please provide the text to be translated. These investments demonstrate a strong confidence in Prosper’s vision of bringing together institutional-level Bitcoin mining power on the chain and its innovative approach to Bitcoin liquidity farming. The participation of these strategic partners brings important industry expertise and networks to support Prosper’s scaling operations.

Positioning Prosper for Growth

• Prosper’s tokenomics adopts a unique design to ensure that the hash rate per token only increases and is profitable for $PROS holders.
• Prosper’s DAO leverages a unique flywheel model with both hashrate and Bitcoin treasury operations - all managed by and for the benefit of $PROS holders.
• Hashrate continuously generates Bitcoin at the enterprise level, a portion of which is rewarded to its owners for their active participation, and the rest goes to the DAO treasury.
• Bitcoin in the DAO’s treasury can be directed towards TVL opportunities with ecosystem partners like Bitcoin L2 to benefit $PROS holders and the DAO.
• The growth in DAO treasury value and the adoption of $PROS allow the protocol to further expand its fundamental hashrate and increase protocol flexibility.

Prosper is well positioned to solidify its status as a decentralized Bitcoin mining protocol by combining institutional-level Bitcoin mining hashrate, a centrally supported decentralized protocol design, and a comprehensive network of strategic partners.

About Prosper

Prosper is a decentralized protocol for a community that truly believes in Bitcoin, which tokenizes Bitcoin hashrate at the institutional level as omnichain RWA, providing full exposure to Bitcoin hashrate and aiming to fully unleash the potential of Bitcoin. For more information, users can visit prosper-fi.com or follow X (formerly known as Twitter).

This article does not contain investment advice or recommendation. Every investment and trading transaction carries risk and readers should conduct their own research when making decisions.