As a seasoned analyst with over two decades of experience in the tech and finance sectors, I find Prosper’s recent developments to be nothing short of groundbreaking. The acquisition of 7,000 ASIC miners from BITMAIN and the successful closure of its strategic funding round are strategic moves that solidify Prosper’s position as a pioneer in democratizing access to institutional-grade Bitcoin mining.
Dubai, United Arab Emirates, December 13th, 2024, Chainwire
Today, Prosper – a protocol aiming to democratize Bitcoin mining by turning institutional-quality Bitcoin hashrate into cross-chain real-world assets (RWA) – announced the purchase of more than 7,000 ASIC miners from BITMAIN and the completion of its strategic funding round.
- 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
- Prosper 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
After revealing the long-term partnership and hosting service deal with BITMAIN, the world’s top digital currency mining server manufacturer, this significant purchase signifies a crucial move in Prosper’s objective to offer robust dependability within its mining network. By utilizing BITMAIN’s advanced technology, Prosper improves the value for its $PROS token holders, solidifying itself as the leading Web3 Bitcoin mining protocol backed by prominent industry figures.
Milton Lam, a member of Prosper’s Advisory Council, explained that Prosper mirrors the core principles of Bitcoin by making it easier for more people to participate in Bitcoin mining through blockchain technology. This approach allows Prosper to expand its operations in both Bitcoin hashrate and treasury management, while also promoting a decentralized Bitcoin mining network. By doing so, Prosper aims to preserve Bitcoin’s reputation as the leading digital reserve currency.
Prosper’s Latest Development
- 1 EH/s of hashrate procured and ready to fully go live (with 250 PH/s live on Prosper’s dApp already)
- Access to pipeline capacity of 170MW with the mid-term goal of adding another 5 EH/s
- More than 2 BTC rewards given out to $PROS holders since November
- Access to more than 200 BTC to be delegated by launch partners to the DAO to unlock TVL opportunities for $PROS holders
Strategic Round Closure: Strengthening the Bitcoin Ecosystem
As an analyst, I’m excited to share that Prosper has not only sealed a partnership with BITMAIN but has also finalized a strategic funding round. This round saw investments from key industry players and financial investors such as Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. Prior to this, Animoca Brands had announced their plans to acquire $PROS tokens from the open market in October.
These investments demonstrate the strong confidence in Prosper’s 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’s operations as it scales.
Positioning Prosper for Growth
- Prosper’s tokenomics adopts a unique design to ensure hashrate-per-token will only increase and be accretive to $PROS holders.
- Prosper’s DAO leverages a unique flywheel model with both hashrate and Bitcoin treasury operations – all governed by and for the benefits of $PROS holders.
- Institutional-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.
- DAO’s treasury Bitcoin can be directed towards TVL opportunities with ecosystem partners such as Bitcoin L2 to generate benefits for $PROS holders and the DAO.
- Growth in DAO treasury value and $PROS adoption allows the protocol to further expand underlying hashrate and enhance protocol resilience.
Through merging robust institutional Bitcoin mining power, a decentralized protocol structure grounded in sound principles, and a wide network of tactical alliances, Prosper stands primed to firmly establish itself as the leading decentralized Bitcoin mining protocol.
About Prosper
As a dedicated analyst, I am thrilled to share insights about Prosper, a groundbreaking decentralized platform that embodies unwavering faith in Bitcoin. This innovative solution offers comprehensive exposure across the Bitcoin mining landscape by tokenizing top-tier Bitcoin hashrate as omnichain RWA. The ultimate goal is to unlock the full potential of Bitcoin. For further details, I invite you to explore prosper-fi.com or follow us on X (previously known as Twitter).
Contact
Prosper
contact@prosper-fi.com
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2024-12-13 18:13