Prosper receives investment from Metalpha to support its new strategic focus on Bitcoin mining

2024/10/25

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Prosper, a decentralized protocol with the aim of bridging institutional-grade Bitcoin mining power on-chain and providing full exposure to the broader Bitcoin ecosystem, today announced that Metalpha Technology Holding Ltd (NASDAQ: MATH), a global digital asset-focused wealth management company has made an investment in its native project token PROS.

Prosper has recently announced a pivot in its strategic direction to focus on Bitcoin mining and the related Bitcoin ecosystem. Post completion of the pivot, Prosper’s token foundation will hold a number of Bitcoin miners and the token foundation’s members will directly contribute to the underlying mining power’s operations and productions for Bitcoin. Prosper collaborates with prominent industry partners to procure various services and products required to bring institutional-grade execution in managing those hashrate for holders’ benefit, and this investment by Metalpha represents a key step in bringing that vision to life.

Additionally, Prosper intends to leverage Metalpha’s industry-leading expertise in derivative products for digital assets, and customize BTC hedging products for Prosper’s mining operation to help manage market risk and improve visibility on liquidity from the underlying miners. We believe this will bring considerable value-add to the overall operational efficiency of the protocol.

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About Metalpha Limited

Established in 2021, Metalpha Limited is a global digital assets wealth management company headquartered in Hong Kong. The company hires top talents from Wall Street banks and provides crypto derivative products to institutions, which include exchanges, miners, funds, family offices, etc. Backed by both Metalpha Technology Holding Limited (NASDAQ: MATH) and Antalpha Technologies Limited, the company is one of the largest derivatives traders in Asia.

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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).