Published by CentBit.Online – Crypto & Blockchain Expert Bangladesh
BIT Mining has reaffirmed its strategic commitment to Litecoin (LTC) and Dogecoin (DOGE) mining, unveiling advanced initiatives designed to enhance profitability and market adaptability.
Record Mining Achievements
As of November 27, 2024, BIT Mining has mined:
- 84,485.42 LTC
- 227,908,250.38 DOGE
These impressive numbers were achieved using LD3 mining machines, which contribute 1.32% of the global hash rate for Litecoin and Dogecoin networks.
Mining Performance and Efficiency
BIT Mining operates 5,552 active LD3 miners, capable of:
- Delivering a combined hash rate of 18.94 TH/s.
- Mining Litecoin, Dogecoin, and the newer BEL coin.
The in-house developed LD3 miners stand out for their cost-effectiveness and short payback periods, making them three times more profitable than Bitcoin mining.
This advanced technology was made possible through BIT Mining’s 2021 acquisition of Bee Computing, a leading blockchain hardware design firm.
CEO’s Vision: Innovation and Agility
Xianfeng Yang, CEO of BIT Mining, highlighted the company’s adaptability:
“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. By combining innovation with agility, we are enhancing our competitive edge and creating value for our stakeholders.”
Market Trends Favoring LTC and DOGE
Litecoin and Dogecoin have seen significant price rallies, solidifying their position as more profitable alternatives to Bitcoin mining. Favorable market conditions, combined with advancements in blockchain technology, have driven this surge in miner interest.
Youwei Yang, Chief Economist at BIT Mining, added:
“The recent rally in Litecoin and Dogecoin, fueled in part by Elon Musk’s influence and regulatory shifts following the Trump administration’s return, has had a major impact on mining profitability.”
Yang further noted the role of growing network interoperability and advancements in blockchain technology in driving optimism across the crypto industry.
LTC and DOGE: The Future of Profitable Mining
BIT Mining’s focus on Litecoin and Dogecoin highlights the rising momentum of these altcoins as lucrative opportunities for miners and investors. As blockchain technology evolves and market conditions favor altcoins, BIT Mining is well-positioned to leverage these trends for sustained growth.
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