Prosper acquires 7,000 ASIC miners from BITMAIN to democratize Bitcoin mining

From Investing.com

December 13, 2024 09:30 AM:

Prosper, a decentralized protocol, has acquired over 7,000 ASIC miners from BITMAIN to democratize access to institutional-grade Bitcoin mining. The strategic funding round was successfully closed with backing from Metalpha, Waterdrip Capital, BIT, and more. The partnership with BITMAIN aims to accelerate DAO-owned hashrate and Bitcoin treasury operations.

The closure of the strategic funding round saw investments from industry players like Metalpha, Waterdrip Capital, and BIT Mining. This reflects confidence in Prosper’s vision of bridging institutional-grade Bitcoin mining power on-chain and innovative Bitcoin liquidity farming. The involvement of strategic partners will support Prosper’s operations as it scales.

Prosper’s tokenomics are designed to increase hashrate-per-token, benefiting $PROS holders. The DAO leverages a unique flywheel model with hashrate and Bitcoin treasury operations governed by and for $PROS holders’ benefits. Institutional-grade hashrate generates ongoing Bitcoin rewards for holders and the DAO treasury, allowing for further expansion and protocol resilience.

Read more at Investing.com: Prosper Acquires 7,000 ASIC Miners from BITMAIN and Secures Strategic Funding to Democratize Bitcoin Mining By Chainwire