On January 3rd, Bitcoin’s hashrate topped 1,000 EH/s, nearly two times the amount this time last year. Against this backdrop, Animoca Brands’ Prosper, a decentralized protocol, is making a splash with its innovative tokenization of Bitcoin mining to democratize mining access.
Prosper acquired over 7,000 ASIC miners made by BITMAIN, the world leader in digital currency mining servers. With this acquisition and a successful strategic funding round, Prosper has taken an important step toward fulfilling its mission of bringing Bitcoin mining to a broader audience.
Moreover, the surge in computational power is another affirmation of growing confidence in Bitcoin’s security and proof of the decentralization of its infrastructure.
Working with BITMAIN, Prosper is integrating 1 EH/s in mining capacity and plans to scale substantially. Currently, 250 PH/s is live from this capacity, generating consistent rewards for $PROS token holders.
Prosper’s initiative attempts to bridge the gap between institutional mining power and decentralized ownership by tokenizing institutional-grade Bitcoin hashrate as an omnichain real-world asset (RWA).
The rising hashrate reflects increasing investment in Bitcoin’s ecosystem, and Prosper aims to ensure that this value extends to others besides prominent corporations. By tokenizing Bitcoin’s hashrate, Prosper allows retail participants to earn mining rewards through its decentralized protocol.
With an institutional-grade hashrate, $PROS token holders receive rewards while additional model income flows toward the DAO treasury.
Prosper’s vision is backed by industry powerhouses.
“Bitcoin brought about a fundamental shift in finance by democratizing an economic system in its entirety with blockchain technology,” said Milton Lam, a member of Prosper’s Advisory Council. He added, “Prosper follows the footsteps of Bitcoin’s core ethos by democratizing access to Bitcoin hashrate, the underlying layer powering Bitcoin-through blockchain technology.
Industry powerhouses such as Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol have strongly supported Prosper’s vision. Prosper also successfully closed its strategic funding round. Furthermore, Animoca Brands invested in $PROS tokens, highlighting the company’s support of Prosper’s approach to reinventing Bitcoin mining.
Expanding further, 5EH/s will be added to the mining pool, targeting a total mining energy footprint of 170 MW, and a strong ecosystem around Prosper’s DAO model will be constructed. The protocol has created tangible benefits for its community by distributing more than 2 BTC worth of rewards to $PROS holders since November.
With Bitcoin’s growing hashrate Prosper is making Bitcoin’s future more inclusive than ever before.
Bitcoin mining firms have been able to expand their production capabilities, reaching ATH hashrate
Even after Bitcoin’s 2024 halving of reduced rewards per block, the all-time high hashrate shows that mining activity has increased. Despite financial market headwinds, Bitcoin mining firms have been able to expand their production capabilities, resulting in this surge. Institutional interest also plays a role through Bitcoin ETFs that have passed $100 billion in net assets, according to Bloomberg Intelligence.
An increase in institutional involvement is apparent and requires a secure institutional mechanism for a decentralized Bitcoin network. This growing demand finds an ally in Prosper’s efforts to democratize mining by enabling both retail and institutional participants to participate in and benefit from Bitcoin’s evolution.
