{"id":28435,"date":"2024-12-14T07:21:11","date_gmt":"2024-12-14T07:21:11","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=28435"},"modified":"2024-12-14T07:21:11","modified_gmt":"2024-12-14T07:21:11","slug":"prosper-acquires-7000-asic-miners-from-bitmain-and-secures-strategic-funding-to-democratize-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=28435","title":{"rendered":"Prosper Acquires 7,000 ASIC Miners from BITMAIN and Secures Strategic Funding to Democratize Bitcoin Mining"},"content":{"rendered":"

[PRESS RELEASE \u2013 Dubai, United Arab Emirates, December 13th, 2024]<\/strong><\/p>\n

Prosper<\/a>, a decentralized protocol democratizing access to Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate as omnichain real-world assets (RWA), today announced the acquisition of over 7,000 ASIC miners from BITMAIN along with the successful closing of its strategic funding round.<\/p>\n

Backed by Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands, and more, Prosper has procured the new ASIC miners from BITMAIN to bring institutional-grade execution quality to its protocol
\nProsper aims to expand its underlying Bitcoin hashrate capacity to accelerate the flywheel of DAO-owned hashrate and Bitcoin treasury operations & democratise access to institutional-grade mining<\/p>\n

Following the announcement of Prosper\u2019s long-term partnership and hosting service agreement with BITMAIN, the world\u2019s leading manufacturer of digital currency mining servers, this landmark purchase marks an instrumental step in Prosper\u2019s mission to provide institutional-grade reliability to its mining ecosystem. By leveraging BITMAIN\u2019s cutting-edge products, Prosper enhances the value delivered to its $PROS token holders, further distinguishing itself as the premier Web3 Bitcoin mining protocol backed by leading industry players.<\/p>\n

\u201cBitcoin brought about a fundamental shift in finance by democratizing an economic system in its entirety with blockchain technology. Prosper follows the footsteps of Bitcoin\u2019s core ethos by democratizing access to Bitcoin hashrate, the underlying layer powering Bitcoin-through blockchain technology. This layer of community governance and ownership afforded by blockchain allows Prosper to scale its flywheel of both Bitcoin hashrate and treasury operations while simultaneously helping to ensure that Bitcoin mining layer is sufficiently decentralized to maintain Bitcoin\u2019s status as the most recognized digital reserve currency. \u201d said Milton Lam, Prosper Advisory Council Member.<\/p>\n

Prosper\u2019s Latest Development<\/strong><\/p>\n

1 EH\/s of hashrate procured and ready to fully go live (with 250 PH\/s live on Prosper\u2019s dApp already)
\nAccess to pipeline capacity of 170MW with the mid-term goal of adding another 5 EH\/s
\nMore than 2 BTC rewards given out to $PROS holders since November
\nAccess to more than 200 BTC to be delegated by launch partners to the DAO to unlock TVL opportunities for $PROS holders<\/p>\n

Strategic Round Closure: Strengthening the Bitcoin Ecosystem<\/strong><\/p>\n

In addition to its BITMAIN partnership, Prosper announced the closure of its strategic funding round, which saw participation from prominent industry players and financial investors, including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. Earlier in October, Animoca Brands also disclosed its intention to purchase $PROS tokens from the open market.<\/p>\n

These investments demonstrate the strong confidence in Prosper\u2019s vision of bridging institutional-grade Bitcoin mining power on-chain and its innovative approach to Bitcoin liquidity farming. The involvement of these strategic partners brings crucial industry expertise and networks to support Prosper\u2019s operations as it scales.<\/p>\n

Positioning Prosper for Growth<\/strong><\/p>\n

Prosper\u2019s tokenomics adopts a unique design to ensure hashrate-per-token will only increase and be accretive to $PROS holders.
\nProsper\u2019s DAO leverages a unique flywheel model with both hashrate and Bitcoin treasury operations \u2013 all governed by and for the benefits of $PROS holders.
\nInstitutional-grade hashrate generates Bitcoin on an ongoing basis, part of which is rewarded to holders for their active participation, and remaining goes to the DAO treasury.
\nDAO\u2019s treasury Bitcoin can be directed towards TVL opportunities with ecosystem partners such as Bitcoin L2 to generate benefits for $PROS holders and the DAO.
\nGrowth in DAO treasury value and $PROS adoption allows the protocol to further expand underlying hashrate and enhance protocol resilience.<\/p>\n

By combining institutional-grade Bitcoin mining hashrate, a decentralized protocol design backed by strong fundamentals, and an extensive network of strategic partners, Prosper is well-positioned to solidify its status as the flagship decentralized Bitcoin mining protocol.<\/p>\n

About Prosper<\/strong><\/p>\n

Prosper<\/a> is a decentralized protocol for a community that truly believes in Bitcoin, providing full exposure across Bitcoin hashrate and Bitcoin through tokenizing institutional-grade Bitcoin hashrate as omnichain RWA, and aims to fully unlock the potential of Bitcoin. For more information, users can visit prosper-fi.com<\/a> or follow on X (formerly Twitter)<\/a>.<\/p>\n

The post Prosper Acquires 7,000 ASIC Miners from BITMAIN and Secures Strategic Funding to Democratize Bitcoin Mining<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

[PRESS RELEASE \u2013 Dubai, United Arab Emirates, December 13th, 2024] Prosper, a decentralized protocol democratizing access to Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate as omnichain real-world assets (RWA), today announced the acquisition of over 7,000 ASIC miners from BITMAIN along with the successful closing of its strategic funding round. Backed by Metalpha, Waterdrip Capital, […]<\/p>\n","protected":false},"author":0,"featured_media":28436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-28435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28435"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28435"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/28436"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}