Prosper has purchased more than 7,000 mining machines from Bitmain and completed a strategic round of financing

Prosper , a decentralized protocol that democratizes Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate in the form of full-chain real assets (RWA), today announced that it has purchased more than 7,000 ASIC mining machines from Bitmain and successfully completed its strategic financing.

• With the support of many well-known institutions such as Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands, etc., Prosper purchased brand new ASIC mining machines from Bitmain to provide institutional-grade execution quality for its protocol.

• Prosper aims to expand its base Bitcoin hashrate capacity to accelerate the flywheel of DAO-owned hashrate and Bitcoin Vault operations and democratize access to institutional-grade mining.

This milestone purchase marks a significant step forward in Prosper’s mission following Prosper’s announcement of a long-term partnership and hosting services agreement with mining machine manufacturer Bitmain. By adopting Bitmain’s cutting-edge products, Prosper delivers enhanced value to PROS token holders while solidifying its position as the leading Web3 Bitcoin mining protocol.

“Bitcoin has brought about a fundamental shift in finance by democratizing the economic system through blockchain technology,” said Milton Lam, a member of the Prosper Advisory Board. “Prosper continues the core philosophy of Bitcoin by democratizing Bitcoin computing power through blockchain technology. This community governance and ownership provided by the blockchain will ensure that the Bitcoin mining layer is decentralized enough to maintain its status as the world’s digital reserve currency while Prosper expands computing power and treasury operations.”

Prosper latest news

• It has obtained 1 EH/s of computing power and is ready to be fully launched (of which 250 PH/s has been launched on Prospers dApp).

• 170 MW of pipeline capacity is in place, with a medium-term goal of adding 5 EH/s.

• Since November, over 2 BTC have been distributed as rewards to $PROS holders.

• Over 200 Bitcoins were allocated to the DAO by partners, unlocking TVL opportunities for PROS token holders.

Strategic Financing: Boosting the Bitcoin Ecosystem

In addition to the collaboration with Bitmain, Prosper also announced the completion of its strategic financing, which attracted participation from well-known industry players and financial investors including Metalpha, Waterdrip Capital, BIT Mining and Satoshi Protocol. In October this year, Animoca Brands also publicly stated its plan to purchase PROS tokens through the secondary market.

These investments demonstrate Prosper’s vision to build institutional-grade Bitcoin mining capabilities on-chain, that is, to create an innovative model for Bitcoin liquidity mining by introducing institutional-grade Bitcoin mining capabilities on-chain. The participation of strategic partners brings key industry experience and network support to Prosper’s operations and expansion.

Development Vision: Driving Prospers Growth

Prosper’s token economics are uniquely designed to ensure that the computing power of each token continues to increase, thereby bringing long-term benefits to PROS token holders.

• The DAO adopts a unique flywheel model that integrates computing power and Bitcoin vault operations, all of which are governed and benefited by PROS token holders.

• Institutional-grade computing power continues to mine Bitcoin, with part of the rewards distributed to active PROS token holders and the rest going to the DAO treasury.

• The DAO’s Bitcoin Treasury can be used in collaboration with ecosystem partners (such as Bitcoin L2) to increase TVL and generate more value for PROS token holders and the DAO.

• As the value of the DAO Treasury and adoption of PROS tokens grows, the protocol is able to further scale its base computing power and increase its resilience.

With institutional-grade Bitcoin computing power, excellent decentralized protocol design, and a broad network of strategic partners, Prosper is steadily moving towards becoming a well-known decentralized Bitcoin mining protocol.

About Prosper

Prosper is a decentralized protocol that provides Bitcoin hashrate and full Bitcoin participation to the community that truly believes in Bitcoin. By tokenizing institutional-grade Bitcoin hashrate as RWA, Prosper is committed to unlocking the full potential of Bitcoin. For more information, visit prosper-fi.com or follow X.

This article is sourced from the internet: Prosper has purchased more than 7,000 mining machines from Bitmain and completed a strategic round of financing

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