BIT Mining Limited (BTCM) (“BIT Mining” or the “Company”), a technology-driven cryptocurrency mining company, today announced that it is self-mining Litecoin (LTC) and Dogecoin (DOGE) alongside Bitcoin (BTC). We announced that we are continuing to work on this. ) mining and its data center hosting business. As other crypto miners look to diversify their revenue streams in the post-halving environment, the company's expansion into Litecoin (LTC) and Dogecoin (DOGE) is almost 3 times more profitable than mining BTC alone. It has been proven that it is twice as high.
“At BIT Mining, we believe that cutting-edge technology and forward-thinking strategies will enable us to adapt to market changes and seize new opportunities,” said Xianfeng Yang, CEO of BIT Mining. I'm doing it. “By combining innovation and agility, we strengthen our competitiveness and create value for our stakeholders. As the crypto market continues to evolve, we leverage our strengths for long-term success.” And we're ready to grow with it.”
Since we started our LTC and DOGE self-mining business, we have mined 84,485.42 LTC and 227,908,250.38 DOGE as of November 27, 2024. There are over 5,552 active LTC/DOGE/BEL mining machines (capable of mining 3 coins at the same time, BEL coin is newer and relatively unstable) with a total hash rate of 18.94 TH/s. The company currently accounts for 1.32% of mining machines. As one of the largest participants, the total global network hash rate of LTC/DOGE/BEL.
BIT Mining's commitment to Litecoin (LTC) and Dogecoin (DOGE) is a major strategic move following its 2021 acquisition of Bee Computing, a semiconductor company specializing in the design and development of blockchain hardware. Since the acquisition, we have launched the power efficient LD3 miner. It is one of the few cutting-edge machines that offers cost-effective performance while minimizing the payback period for LTC/DOGE/BEL mining, increasing profitability and solidifying its position. Masu. market leader. Beyond years of chip design knowledge and three years of dedication to developing a cryptocurrency miner, LD3's success is a testament to Bit Mining's future plans and the foundation of miners' validation and support. We have proven our long-term commitment to blockchain technology, which stands firmly on the foundation. Entire ecosystem.
“The recent rise in Litecoin and Dogecoin has been fueled in part by Elon Musk’s influence and changes in the U.S. regulatory landscape following Trump’s victory, which has had a significant impact on mining profitability.” said Dr. Youwei Yang, Economist and Vice President. Mining with BIT mining. “Continued advances in blockchain technology, especially network interoperability, have given Dogecoin and Litecoin significant momentum, increasing optimism in the cryptocurrency market. We predict that this upward trend will continue until 2025, reflecting our confidence in the potential and widespread growth of cryptocurrencies in the crypto industry. ”
Having recently announced our expansion into Ethiopia, we have secured superior mining and data center resources while building strong international partnerships to remain at the forefront of industrial and technological innovation. With a renewed focus on mining machine development, home-operated mining, and data center operations, the company is well-positioned to succeed in the rapidly evolving crypto environment.
For more information about BIT Mining, please visit www.btcm.group.
