Prosper Acquires 7,000 ASIC Miners from BITMAIN and Secures Strategic Funding to Revolutionize Bitcoin Mining

Dubai, UAE — December 13, 2024 — Prosper, a decentralized protocol focused on democratizing access to Bitcoin mining, has announced a landmark acquisition of over 7,000 ASIC miners from BITMAIN, the global leader in digital currency mining hardware. Along with this acquisition, the protocol has successfully closed a strategic funding round, positioning itself for rapid growth in the Bitcoin mining space.

Prosper's mission to make institutional-grade Bitcoin mining accessible to everyone is further solidified with the acquisition, which is expected to significantly expand its underlying Bitcoin hashrate capacity. The acquisition is backed by prominent industry players, including Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands, and others. The deal represents a crucial step towards enhancing the decentralized autonomous organization's (DAO) mining operations and Bitcoin treasury, ensuring that users can benefit from the most reliable, high-performance mining infrastructure.

Advancing Bitcoin Mining with BITMAIN's Cutting-Edge ASIC Miners

With the new ASIC miners from BITMAIN, Prosper aims to accelerate the growth of its Bitcoin mining operations, bringing institutional-grade execution to its decentralized platform. This acquisition is the latest milestone in a series of strategic moves to position Prosper as a premier Web3 Bitcoin mining protocol, providing reliable mining infrastructure to support the growing demand for decentralized Bitcoin operations.

In conjunction with its long-term partnership and hosting agreement with BITMAIN, Prosper is set to expand its mining ecosystem and reward its community of PROS token holders. The new miners will enhance the value proposition of the PROS token, as Prosper continues to scale its flywheel model of Bitcoin hashrate and treasury operations. By tokenizing institutional-grade Bitcoin hashrate as omnichain real-world assets (RWAs), Prosper brings a new layer of community governance and ownership to the mining process, reflecting the core ethos of Bitcoin itself.

Milton Lam, Prosper Advisory Council Member, emphasized the significance of this development: “Bitcoin has already democratized finance by decentralizing control over money. Prosper follows in those footsteps by democratizing access to Bitcoin’s underlying hashrate. Our protocol empowers communities through blockchain technology, helping to decentralize Bitcoin mining and ensuring Bitcoin’s place as the world's leading digital reserve currency.”

Key Milestones for Prosper

The acquisition of 7,000 ASIC miners marks a critical step in Prosper's expansion efforts, with several milestones already achieved:

• 1 EH/s of hashrate secured, with 250 PH/s currently live on Prosper’s decentralized application (dApp).
• 170 MW of pipeline capacity secured, with plans to add another 5 EH/s in the mid-term.
• Over 2 BTC rewards distributed to PROS token holders since November, with additional rewards to be delegated to the DAO by launch partners.
• Strategic funding round closure with strong backing from investors like Metalpha, Waterdrip Capital, BIT Mining, and Animoca Brands, further supporting Prosper’s vision.

These achievements position Prosper to scale its operations, bringing institutional-grade Bitcoin mining power on-chain and opening up new opportunities for liquidity farming and Bitcoin exposure.

Strategic Funding to Strengthen Bitcoin Ecosystem

The closure of Prosper’s strategic funding round is a testament to the confidence investors have in the protocol’s long-term vision. Participation from renowned players in the cryptocurrency and financial sectors, including Metalpha, Waterdrip Capital, and BIT Mining, brings valuable expertise and resources to Prosper’s operations. The support from these partners will help Prosper scale its platform, with a focus on strengthening the Bitcoin ecosystem and further integrating institutional-grade mining power into the decentralized finance (DeFi) space.

These strategic investments also underscore the growing belief in Prosper’s innovative approach to Bitcoin liquidity farming and its ability to bridge the gap between institutional and decentralized Bitcoin mining. The backing from Animoca Brands, which has expressed interest in acquiring PROS tokens on the open market, signals a strong vote of confidence in Prosper’s model and potential for growth.

Prosper’s Unique Tokenomics and DAO Model

Prosper’s unique tokenomics and DAO structure allow for long-term growth and sustainability. The protocol’s flywheel model ensures that as Prosper’s Bitcoin mining operations grow, so too does the value for PROS token holders. This model creates an ecosystem where institutional-grade hashrate is continually generating Bitcoin, part of which is distributed as rewards to token holders, while the remainder is directed to the DAO treasury.

The DAO’s treasury can then be utilized for liquidity mining opportunities, such as partnerships with Bitcoin Layer-2 (L2) solutions, generating additional benefits for both PROS holders and the broader ecosystem. This symbiotic relationship ensures that as Prosper grows, the value of its DAO treasury and the PROS token will continue to increase, providing long-term value for investors.

A Bright Future for Prosper

By combining institutional-grade mining power with a decentralized protocol design and a robust network of strategic partners, Prosper is well-positioned to lead the next wave of decentralized Bitcoin mining. The protocol’s ability to scale its mining operations while rewarding its community with Bitcoin rewards makes it a compelling option for anyone seeking exposure to Bitcoin mining without the operational complexities and risks.

Prosper’s vision of democratizing Bitcoin mining, backed by cutting-edge hardware from BITMAIN and strategic partnerships, positions it as a trailblazer in the Web3 and decentralized finance sectors. With an ever-expanding ecosystem, Prosper continues to bring the power of institutional-grade Bitcoin mining to a global community, creating new opportunities for financial inclusion and decentralized governance.

About Prosper

Prosper is a decentralized protocol designed to democratize access to Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate as omnichain real-world assets (RWA). The protocol allows users to gain exposure to Bitcoin mining and rewards them for their participation through its DAO model. Prosper aims to bridge the gap between institutional-grade mining power and decentralized finance, providing users with a seamless, community-governed solution for unlocking the full potential of Bitcoin.

For more information, visit prosper-fi.com or follow Prosper on X