BIT Mining Invests in Prosper’s Native Tokens to Support New Focus on Bitcoin Mining

2024 / 11 / 14

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Prosper, a decentralized protocol bridging institutional-grade Bitcoin mining power on-chain and aiming to unlock the potential of Bitcoin through liquidity farming, today announced a new investment in its native project token PROS by one of the leading cryptocurrency mining companies BIT Mining Limited (NYSE: BTCM).

Prosper's new strategic focus on Bitcoin mining and the broader Bitcoin ecosystem has been well received by the community. As part of this strategic change, Prosper partners with prominent industry players to obtain various services and products to deliver institutional-grade execution in managing its mining hashrate, for the benefit of its holders.

This investment from BIT Mining represents another significant validation of Prosper’s thesis by institutional backers. In addition to Prosper's growing roster of top-tier industry partners and sophisticated financial investors (including a recently announced investment by Waterdrip Capital), Prosper's unique value proposition also appeals to strategic players such as cryptocurrency mining companies with vast experience in mining operations and deep knowledge in the ecosystem. This investment reinforces the credibility and viability of Prosper’s new strategic vision.

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About BIT Mining Limited

BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company with operations in cryptocurrency mining, data center operation and mining machine manufacturing. The company is strategically creating long-term value across the industry with its cryptocurrency ecosystem. Anchored by its cost-efficient data centers that strengthen its profitability with steady cash flow, the company also conducts self-mining operations that enhance its marketplace resilience by leveraging self-developed and purchased mining machines to seamlessly adapt to dynamic cryptocurrency pricing. The company also owns 7-nanometer BTC chips and has strong capabilities in the development of LTC/DOGE miners and ETC miners.

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About Prosper

Prosper is a decentralized protocol for a community that truly believes in Bitcoin, providing full exposure across Bitcoin hashrate and Bitcoin through bridging institutional-grade Bitcoin mining power on-chain, and aims to fully unlock the potential of Bitcoin. For more information, visit prosper-fi.com or follow us on X (formerly Twitter).