Prosper acquires 7,000 BITMAIN ASIC miners and completes strategic financing, dedicated to achieving the democratization of Bitcoin mining
Prosper is committed to democratizing access to Bitcoin mining by converting institutional-grade Bitcoin hash power into cross-chain real-world assets (RWA).Decentralized protocol Prosper has announced the acquisition of over 7,000 ASIC miners from BITMAIN and successfully completed strategic financing. Prosper is committed to democratizing access to Bitcoin mining by transforming institutional-grade Bitcoin computing power into cross-chain real-world assets (RWA).
Supported by Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands, and others, Prosper has procured these new ASIC miners from BITMAIN to provide institutional-grade execution quality for its protocol. Prosper aims to expand the underlying Bitcoin computing power capacity, accelerate the flywheel effect of all computing power and Bitcoin reserve operations for decentralized autonomous organizations (DAOs), while providing users with institutional-grade mining access.
Following the announcement of a long-term partnership and custody service agreement with BITMAIN, this milestone procurement marks a significant step for Prosper towards achieving the goal of providing reliability in an institutional-grade mining ecosystem. By leveraging BITMAIN's cutting-edge technology, Prosper offers more value to its $PROS holders, further establishing itself as an industry-leading Web3 Bitcoin mining protocol.
Milton Lam, member of the Prosper Advisory Board, stated:
"Bitcoin has fundamentally disrupted the financial system through blockchain technology. Prosper upholds the core principles of Bitcoin by democratizing access to Bitcoin computing power through blockchain technology. The community governance and ownership empowered by blockchain enable Prosper to simultaneously expand the flywheel effect of Bitcoin computing power and reserve operations, ensuring sufficient decentralization of the Bitcoin mining layer, thereby maintaining Bitcoin's status as the world's most recognized digital reserve currency."
Latest Developments from Prosper
- 1 EH/s of computing power has been procured, with 250 PH/s already online and operating on Prosper's dApp.
- Secured 170MW of pipeline capacity, with a goal to increase by another 5 EH/s in the medium term.
- Since November, over 2 BTC rewards have been distributed to $PROS holders.
- Partner initiatives have provided over 200 BTC in authorization to help $PROS holders unlock TVL (Total Value Locked) opportunities.
Strategic Financing Successfully Completed: Strengthening the Bitcoin Ecosystem
In addition to the collaboration with BITMAIN, Prosper has also announced the completion of strategic financing, with investors including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. In October of this year, Animoca Brands also announced plans to purchase $PROS tokens from the open market.
These investments reflect strong confidence in Prosper's vision within the industry, which aims to innovatively conduct Bitcoin liquidity mining by bringing institutional-grade Bitcoin mining computing power on-chain. The addition of these strategic partners provides crucial industry expertise and resource support for Prosper's operations, aiding its expansion.
Positioning for Future Growth
- Prosper's tokenomics design ensures that the computing power corresponding to each token continues to increase, enhancing the benefits for $PROS holders.
- The DAO manages computing power and Bitcoin reserve operations through a unique flywheel model, with all governance and profits serving $PROS holders.
- Institutional-grade computing power continuously generates Bitcoin, with part of the rewards going to holders and the remainder deposited into the DAO reserves.
- The DAO's Bitcoin reserves can collaborate with ecosystem partners (such as Bitcoin Layer 2 protocols) for TVL opportunities, bringing more benefits to $PROS holders and the DAO.
- The growth of the DAO reserve value and $PROS adoption will further expand the underlying computing power and enhance the protocol's risk resilience.
By combining institutional-grade Bitcoin computing power, a robust decentralized protocol design, and a wide network of strategic partners, Prosper is steadily establishing itself as the flagship decentralized Bitcoin mining protocol.
About Prosper
Prosper is a decentralized protocol designed for the Bitcoin community, supporting the full value of Bitcoin by transforming institutional-grade Bitcoin computing power into cross-chain real-world assets (RWA), and is committed to fully unleashing Bitcoin's potential.
