PANews reported on June 5 that HashPower, a protocol for on-chain staking and yield, announced the completion of a $4 million strategic financing round, with investments from HashKey Capital, FBG Capital, Hailstone Labs, and DePIN X Capital. The funds will be used to expand global decentralized mining capabilities and build digital asset and AI infrastructure through permissionless on-chain access.
HashPower has previously signed a $60 million memorandum of cooperation with eight institutions including Aethir and Automata Network to jointly promote decentralized mining and AI infrastructure research and development. The platform utilizes the DePIN+AI token economic model, allowing users to obtain staking and mining rewards without holding hardware, and currently relies on a global node network to provide on-chain computing power reward distribution.