BIT Mining Announces Commitment to Litecoin (LTC) and Dogecoin (DOGE) Mining, Bringing Increased Profitability
Using self-produced LD3 Miners, BIT Mining is responsible for 1.32% of the global Litecoin and Dogecoin Network Hash Rate
AKRON, Ohio, Dec. 4, 2024 /PRNewswire/ — BIT Mining Limited (NYSE:BTCM) (“BIT Mining” or the “Company”), a leading technology-driven cryptocurrency mining company, today announced the Company’s continued commitment to self-mining Litecoin (LTC) and Dogecoin (DOGE) alongside Bitcoin (BTC) mining and its data center hosting businesses. As other crypto miners look to diversify revenue streams in a post-halving environment, the Company’s expansion into Litecoin (LTC) and Dogecoin (DOGE) has proved to be nearly three times more profitable than mining BTC alone.
“At BIT Mining, we believe our cutting-edge technology and forward-thinking strategy uniquely position us to adapt to market shifts and seize new opportunities,” commented Xianfeng Yang, CEO of BIT Mining. “By combining innovation with agility, we are enhancing our competitive edge and creating value for our stakeholders. As the cryptocurrency market continues to evolve, we are ready to grow alongside it, leveraging our strengths for long-term success.”
As of November 27, 2024, the Company has mined 84,485.42 LTC and 227,908,250.38 DOGE since it started the LTC and DOGE self-mining business. With over 5,552 active LTC/DOGE/BEL mining machines (capable of mining three coins at the same time, BEL coin is newer and relatively more volatile) delivering a combined hash rate of 18.94 TH/s, the Company currently represents 1.32% of the total global network hash rate in LTC/DOGE/BEL, as one of the largest participants.
BIT Mining’s commitment to Litecoin (LTC) and Dogecoin (DOGE) is a major …
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