Prosper acquires 7,000 ASIC mining machines from BITMAIN and obtains strategic financing to promote the democratization of Bitcoin mining

By: blockbeats|2024/12/16 12:45:01

Prosper acquires 7,000 ASIC mining machines from BITMAIN and obtains strategic financing to promote the democratization of Bitcoin mining

Prosper is a decentralized protocol that democratizes Bitcoin mining by tokenizing institutional-grade Bitcoin hashrate as full-chain real assets (RWA). Today, Prosper announced the acquisition of over 7,000 ASIC miners from BITMAIN and the successful completion of its strategic financing.

With support from Metalpha, Waterdrip Capital, BIT Mining, Animoca Brands and many others, Prosper procured new ASIC miners from BITMAIN to introduce institutional-grade execution quality to its protocol.

Prosper aims to expand its underlying Bitcoin hashrate capacity, accelerate the flywheel effect of DAO-owned hashrate and Bitcoin asset library operations, while democratizing access to institutional-grade mining.

Following the announcement of a long-term partnership and escrow service agreement with BITMAIN, the world's leading digital currency mining machine manufacturer, this landmark purchase is a key step for Prosper to provide institutional-grade reliability to the mining ecosystem. By leveraging BITMAIN's cutting-edge products, Prosper improves the value delivery to PROS token holders while further consolidating its position as the leading Web3 Bitcoin mining protocol with the support of top industry players.

Milton Lam, a member of the Prosper Advisory Board, said, "Bitcoin has achieved the full democratization of the economic system through blockchain technology, bringing about fundamental changes in the financial field. Prosper has inherited the footsteps of Bitcoin's core concept and democratized the underlying power of Bitcoin computing power through blockchain technology. The community governance and ownership layer granted by blockchain not only enables Prosper to achieve flywheel expansion in Bitcoin computing power and asset library operations, but also helps to ensure that the Bitcoin mining layer is sufficiently decentralized to maintain Bitcoin's status as the most recognized digital reserve currency."

Prosper's latest progress

· 1 EH/s of computing power has been purchased and is ready to be fully launched (currently 250 PH/s are already in operation on Prosper's dApp).

· With a pipeline capacity of 170MW, the goal is to increase computing power by another 5 EH/s in the medium term.

· Since November, more than 2 BTC have been rewarded to PROS holders.

· More than 200 BTC backed, which will be allocated to the DAO by partners to unlock TVL opportunities for PROS holders.

Strategic Fundraising Completed: Strengthening the Bitcoin Ecosystem

In addition to the partnership with BITMAIN, Prosper announced the completion of a strategic funding round that attracted several well-known industry players and financial investors, including Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol. In October, Animoca Brands also stated that it planned to purchase PROS tokens from the open market.

These investments demonstrate the industry’s high recognition of Prosper’s vision to bring institutional-grade Bitcoin computing power to the chain and expand the ecosystem through an innovative Bitcoin liquidity mining model. The addition of strategic partners provides Prosper with critical industry expertise and network support to help it move forward steadily during its expansion.

Powering Prosper’s Growth

· Prosper’s token economics are uniquely designed to ensure that the hashrate per token will only increase, providing value-added benefits to PROS holders.

· Prosper’s DAO leverages a unique flywheel model that combines hashrate with Bitcoin treasury operations, governed by and for the benefit of PROS holders.

· Institutional-grade hashrate continuously generates Bitcoin, a portion of which is distributed as rewards to actively participating holders, and the remainder is deposited in the DAO treasury.

· Bitcoin in the DAO treasury can be used for TVL opportunities with ecosystem partners (such as Bitcoin L2), creating benefits for PROS holders and the DAO.

· As the value of the DAO treasury and the adoption of PROS grow, the protocol is able to further expand its base hashrate and increase its risk resistance.

By combining institutional-grade Bitcoin mining power, a decentralized protocol design backed by strong fundamentals, and an extensive network of strategic partners, Prosper is well-positioned to solidify its position as the flagship decentralized Bitcoin mining protocol.

About Prosper

Prosper is a decentralized protocol dedicated to providing comprehensive Bitcoin hashrate and exposure to Bitcoin to communities that truly believe in Bitcoin. By tokenizing institutional-grade Bitcoin hashrate as full-chain Real Assets (RWA), Prosper is committed to unlocking the full potential of Bitcoin. For more information, users can visit the official website or follow the X platform.

This article is from a contribution and does not represent the views of BlockBeats

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

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