Prosper acquires 7,000 ASIC mining machines from BITMAIN and obtains strategic financing to promote the democratization of Bitcoin mining

By: blockbeats|2024/12/16 12:45:01

Prosper is a decentralized protocol that democratizes Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate as full-chain real assets (RWA). Today, Prosper announced the acquisition of over 7,000 ASIC miners from BITMAIN and the successful completion of its strategic financing.

With support from Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands and many others, Prosper procured new ASIC miners from BITMAIN to introduce institutional-grade execution quality to its protocol.

Prosper aims to expand its underlying Bitcoin hashrate capacity, accelerate the flywheel effect of DAO-owned hashrate and Bitcoin asset library operations, while democratizing access to institutional-grade mining.

Following the announcement of a long-term partnership and escrow service agreement with BITMAIN, the world's leading digital currency mining machine manufacturer, this landmark purchase is a key step for Prosper to provide institutional-grade reliability to the mining ecosystem. By leveraging BITMAIN's cutting-edge products, Prosper improves the value delivery to PROS token holders while further consolidating its position as the leading Web3 Bitcoin mining protocol with the support of top industry players.

Milton Lam, a member of the Prosper Advisory Board, said, "Bitcoin has achieved the full democratization of the economic system through blockchain technology, bringing about fundamental changes in the financial field. Prosper has inherited the footsteps of Bitcoin's core concept and democratized the underlying power of Bitcoin computing power through blockchain technology. The community governance and ownership layer granted by blockchain not only enables Prosper to achieve flywheel expansion in Bitcoin computing power and asset library operations, but also helps to ensure that the Bitcoin mining layer is sufficiently decentralized to maintain Bitcoin's status as the most recognized digital reserve currency."

Prosper's latest progress

· 1 EH/s of computing power has been purchased and is ready to be fully launched (currently 250 PH/s are already in operation on Prosper's dApp).

· With a pipeline capacity of 170MW, the goal is to increase computing power by another 5 EH/s in the medium term.

· Since November, more than 2 BTC have been rewarded to PROS holders.

· More than 200 BTC backed, which will be allocated to the DAO by partners to unlock TVL opportunities for PROS holders.

Strategic Fundraising Completed: Strengthening the Bitcoin Ecosystem

In addition to the partnership with BITMAIN, Prosper announced the completion of a strategic funding round that attracted several well-known industry players and financial investors, including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. In October, Animoca Brands also stated that it planned to purchase PROS tokens from the open market.

These investments demonstrate the industry’s high recognition of Prosper’s vision to bring institutional-grade Bitcoin computing power to the chain and expand the ecosystem through an innovative Bitcoin liquidity mining model. The addition of strategic partners provides Prosper with critical industry expertise and network support to help it move forward steadily during its expansion.

Powering Prosper’s Growth

· Prosper’s token economics are uniquely designed to ensure that the hashrate per token will only increase, providing value-added benefits to PROS holders.

· Prosper’s DAO leverages a unique flywheel model that combines hashrate with Bitcoin treasury operations, governed by and for the benefit of PROS holders.

· Institutional-grade hashrate continuously generates Bitcoin, a portion of which is distributed as rewards to actively participating holders, and the remainder is deposited in the DAO treasury.

· Bitcoin in the DAO treasury can be used for TVL opportunities with ecosystem partners (such as Bitcoin L2), creating benefits for PROS holders and the DAO.

· As the value of the DAO treasury and the adoption of PROS grow, the protocol is able to further expand its base hashrate and increase its risk resistance.

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

About Prosper

Prosper is a decentralized protocol dedicated to providing comprehensive Bitcoin hashrate and exposure to Bitcoin to communities that truly believe in Bitcoin. By tokenizing institutional-grade Bitcoin hashrate as full-chain Real Assets (RWA), Prosper is committed to unlocking the full potential of Bitcoin. For more information, users can visit the official website or follow the X platform.

This article is from a contribution and does not represent the views of BlockBeats

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