As a seasoned crypto investor with a knack for spotting promising projects, I find the recent investment in Prosper by BIT Mining particularly intriguing. With my years of experience navigating the cryptosphere, I’ve learned to recognize the significance of institutional backing like this, as it validates the project’s potential and viability.
Under the terms of the agreement, BIT Mining invests in the decentralized protocol, Prosper, which is growing its offerings to encompass professional-level Bitcoin mining operations and liquidity farming.
Prosper, a platform connecting Bitcoin mining to blockchain using tokens that represent real-time mining power, has revealed that BIT Mining has invested in their native token, PROS. According to a blog post dated November 14th, this investment is seen as further endorsement of Prosper’s concept by institutional investors.
This investment underscores the trustworthiness and practicality of Prosper’s fresh strategic outlook, as expressed by the investment entity.
The specific amount of the transaction wasn’t revealed. This recent investment was made a week after Prosper received an unspecified significant investment from Waterdrip Capital, a venture capital company established by Chinese entrepreneurs focused on blockchain technology. At that time, Waterdrip also invested in Prosper’s PROS token. After BIT Mining secured funding, the price of PROS tokens increased by 7%, reaching $0.52.
2021 saw the establishment of Prosper, a decentralized system that harnesses the computational power of Bitcoin mining (hashrate) to maximize the network’s capabilities by integrating high-level mining resources directly onto the blockchain. This protocol enables PROS token owners to generate passive income through time-limited staking reward programs.
Moving forward, for continued eligibility, PROS holders must actively participate in the governance of the protocol by exercising their voting rights at least once every quarter, either on the BNB Chain (previously known as Binance Smart Chain) or the Ethereum network.
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2024-11-14 14:47