Dubai, United Arab Emirates, December 13, 2024, Chainwire
Prosper, a decentralized protocol democratizing entry to mining by tokenizing institutional-grade Bitcoin hashrate as omnichain real-world property (RWA), at this time introduced the acquisition of over 7,000 ASIC miners from BITMAIN in addition to the profitable closing of its strategic financing cycle.
- Backed by Metalpha, Waterdrip Capital, BIT, Animoca Manufacturers and plenty of others, Prosper bought BITMAIN's new ASIC miners to carry institutional-grade execution high quality to its protocol.
- Prosper goals to develop its underlying Bitcoin hashrate capability to speed up the flywheel of DAO-owned Bitcoin hashrate and treasury operations and democratize entry to institutional-grade mining.
Following the announcement of Prosper's long-term partnership and internet hosting service settlement with BITMAIN, the world's main digital foreign money mining server producer, this historic buy marks a milestone in Prosper's mission to to supply institutional-grade reliability to its mining ecosystem. By leveraging BITMAIN's industry-leading merchandise, Prosper enhances the worth supplied to its $PROS token holders, distinguishing itself as the primary Web3 Bitcoin mining protocol backed by main {industry} gamers.
“Bitcoin has led to a elementary change in finance by democratizing a complete financial system by blockchain know-how. Prosper follows within the footsteps of Bitcoin's core philosophy by democratizing entry to the Bitcoin hashrate, the underlying layer that powers Bitcoin blockchain know-how. This layer of neighborhood governance and possession supplied by the blockchain permits Prosper to develop its flywheel of Bitcoin hashing and treasury operations whereas concurrently serving to to make sure that the Bitcoin mining layer is decentralized sufficient to take care of the standing of Bitcoin as probably the most acknowledged digital reserve foreign money. mentioned Prosper Advisory Board Member Milton Lam.
The newest growth from Prosper
- 1 EH/s of hashrate bought and able to go totally on-line (with 250 PH/s stay on the Prosper dApp)
- Entry to a pipeline capability of 170 MW with the medium-term goal of including a further 5 EH/s
- Greater than 2 BTC rewards distributed to $PROS holders since November
- Entry to over 200 BTC might be delegated by launch companions to the DAO to unlock TVL alternatives for $PROS holders
Closing the strategic cycle: strengthening the Bitcoin ecosystem
Along with its BITMAIN partnership, Prosper introduced the closing of its strategic funding spherical, which was attended by outstanding {industry} gamers and monetary traders together with Metalpha, Waterdrip Capital, BIT Mining and Satoshi Protocol. Earlier in October, Animoca Manufacturers additionally introduced plans to buy $PROS tokens on the open market.
These investments reveal robust confidence in Prosper's imaginative and prescient of connecting institutional-grade Bitcoin mining energy on-chain and its modern strategy to Bitcoin liquidity farming. The involvement of those strategic companions brings essential {industry} experience and networks to assist Prosper's operations as they evolve.
Place Prosper for progress
- Prosper tokenomics adopts a novel design to make sure that the hashrate per token will solely enhance and be accretive to $PROS holders.
- The Prosper DAO operates a novel flywheel mannequin with Bitcoin hashrate and treasury operations – all ruled by and for the good thing about $PROS holders.
- The institutional-grade hashrate generates Bitcoin on an ongoing foundation, a portion of which is rewarded to holders for lively participation, and the rest goes to the DAO treasury.
- DAO's Bitcoin treasury could be directed in the direction of TVL alternatives with ecosystem companions equivalent to Bitcoin L2 to generate advantages for $PROS holders and the DAO.
- The expansion of the DAO treasury worth and the adoption of $PROS permits the protocol to additional develop the underlying hashrate and enhance the resilience of the protocol.
By combining an institutional-grade Bitcoin mining hashrate, a decentralized protocol design backed by robust fundamentals, and an in depth community of strategic companions, Prosper is well-positioned to solidify its standing as a flagship decentralized Bitcoin mining protocol.
About Thrive
Prosper is a decentralized protocol for a neighborhood that really believes in Bitcoin, offering full publicity to Bitcoin hashrate and Bitcoin by the tokenization of institutional-grade Bitcoin hashrate as omnichain RWA, and goals to totally unlock the potential of Bitcoin. For extra info, customers can go to prosper-fi.com or observe on X (previously Twitter).
ContactProspercontact@prosper-fi.com
This text was initially revealed on Chainwire
