Prosper Enters Long-Term Hosting Service Agreement With BITMAIN to Unlock Bitcoin's Potential in Liquidity Farming

George Town, Cayman Islands, November 15th, 2024, Chainwire

George Town, Cayman Islands, November 15th, 2024, Chainwire

Unveiling a pivotal step in its strategic pivot to harness the power of Bitcoin mining and unlock the potential of BTC in liquidity farming, today announces that it has entered into a long-term hosting service agreement with BITMAIN, the world's leading digital currency mining server producer known for its brand Antminer.

According to the agreement, BITMAIN and its affiliates will provide hosting services for Prosper's foundation-owned Bitcoin miners. This collaboration will ensure high-quality operational standards for $PROS token holders. The first batch of hashrate from this agreement is set to come online throughout November via Antpool's mining pool platform and will be accessible via Prosper's V1 web app.

Earlier this quarter, Prosper announced a shift in its strategic direction to capitalize on Bitcoin mining and unlock Bitcoin's potential in liquidity farming. This agreement with BITMAIN marks a significant step in that direction, aiming to enhance the execution quality for its miners and $PROS token holders. This also highlights Prosper's value proposition as the only Web3 Bitcoin mining project that has secured multiple top-notch industry players as key service providers.

About BITMAIN

Founded in 2013, BITMAIN is renowned for being the world's leading digital currency mining server producer. Known for its brand ANTMINER, the company boasts a vast global presence with a leading market share in both technology and sales volume. Catering to customers in over 100 countries and regions, BITMAIN's footprint spans multiple continents. With its R&D center situated in Singapore, the company also maintains a presence in Hong Kong, the United States, Malaysia, and the United Arab Emirates, among other key regions.