peaq, the layer-1 blockchain powering DePIN and the Machine Economy, announces the expansion of its ecosystem as PING joins to decentralize gaming. PING is building a DePIN of gaming laptops to work as a decentralized cloud service for Web3 and Web2 games. The DePIN will enable gamers to earn rewards for sharing their idle computing resources with game developers and other projects, such as AI startups in need of GPU capacities and crypto miners. As part of its integration with peaq, it will set up a mechanism enabling laptop purchases with stablecoins via peaq and launch its token on the network for the Machine Economy.

The video game industry is a powerhouse in the wider entertainment space, raking in more revenues than movie and music industries combined. PC gaming is its major segment, accounting for about a quarter of the entire industry — and as modern games grow more demanding with every year, so does the computing power of an average gaming rig. This leaves gamers with a lot of idle computation power on their hands, which could be shared with others for rewards.

PING is building a DePIN that will enable gamers to monetize these spare resources, earning rewards for letting the network leverage their rigs when those aren’t in active use. These devices would run as a decentralized backend for Web2 and Web3 online games, giving developers a cheaper and more transparent alternative to traditional cloud services. The spare capacities could also be used for such things as training AI, rendering visuals-heavy virtual experiences, and completing various other tasks. Before its launch, PING is already cooperating with 20 gaming projects that could run on its platform, including Yuliverse and Seraph.

Manufactured by ThundeRobot, a major Chinese gaming hardware company, the PING laptop is the powerful workhorse of the DePIN. Running on a 16-core Intel i7-14650HX processor, it leverages the high-end NVIDIA RTX4070 GPU and 16 GB of RAM to run the most demanding Web2 and Web3 games. With some 2,000 units already sold, the laptop owners will get special benefits in the PING ecosystem, including priority in staking, exclusive rewards from partners, and more. However, the DePIN will be open for non-proprietary gaming rigs to join as well in the future.

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As part of its integration with peaq, PING will set up a mechanism that will enable people to buy their PING laptops with stablecoins on peaq. It will also build the smart contracts that will enable gamers to mint these laptops as NFTs on peaq, thus confirming their ownership in a trustless and decentralized way. PING will also outfit all devices on its DePIN with self-sovereign peaq IDs and launch its token natively on peaq.

“The gaming industry is blossoming, and DePIN can help it scale to the next level,” says Tony Zhang, co-founder of PING. “The PING DePIN is doing exactly that, aligning the incentives of all stakeholders: Gamers get to enjoy top titles while earning rewards for monetizing their spare compute while developers get a cheaper backend for all their cloud needs. This project is made possible by peaq’s impressive fundamentals, which will help PING scale and grow, and the peaq IDs will work as a powerful tool for secure authentication and identity management on the network.”

“The DePIN model puts gamers at the helm of the industry they love and care for, making them the owners of the infrastructure their favorite games run on,” says Leonard Dorlöchter, co-founder of peaq. “PING is bringing this vision to life — and we are thrilled to see it join the peaq ecosystem, with its launch set to make an impact on one of the most important entertainment sectors in the world.”

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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.

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BIT Mining’s commitment to Litecoin (LTC) and Dogecoin (DOGE) is a major strategic action following the Company’s 2021 acquisition of Bee Computing, a semiconductor company dedicated to blockchain hardware design and development. Since the acquisition, the Company has launched power-efficient LD3 miners, one of a few cutting-edge machines that delivers highly cost-effective performance while offering the shortest payback period for LTC/DOGE/BEL mining, increasing profitability and solidifying its position as a market leader. Beyond many years of chip design knowledge accumulation, and three years of dedicated efforts developing crypto miners, the success of LD3 has proven BIT Mining’s forward planning and long-term devotion to blockchain technology, where miners stand firmly in the foundational base to validate and support the whole ecosystem.

“The recent rally in Litecoin and Dogecoin, fueled in part by Elon Musk’s influence and the changing regulatory landscape in the US after the Trump win, has had a major impact on mining profitability,” noted Dr. Youwei Yang, Chief Economist and VP of Mining at BIT Mining. “Ongoing advancements in blockchain technology, particularly in network interoperability, are fueling optimism in the crypto market, with Dogecoin and Litecoin gaining significant momentum. Many analysts predict this upward trend will continue through 2025, reflecting confidence in DOGE’s potential and the broader growth of the cryptocurrency industry.”

Having recently announced an expansion into Ethiopia, the Company continues to be at the forefront of industry and technology innovation, securing premium mining and data center resources while building strong international partnerships. With a renewed focus on mining machine development, self-operated mining, and data center operations, the Company is well positioned to thrive in the rapidly evolving crypto environment.

To learn more about BIT Mining, visit www.btcm.group.

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HANOI, Vietnam, Dec. 4, 2024 /PRNewswire/ — KuCoin, a leading global exchange, has proudly hosted an enlightening substage session at the prestigious VTIS event on December 3rd, drawing a crowd of over 300 participants to Stage C with 4 insightful panels and 2 inspiring speeches. The session, themed “Next-Gen Consumer Apps and the Digital Economy,” offered a profound exploration into the transformative potential of digital assets.

During this pivotal event, visionaries, industry leaders, and enthusiasts gathered to delve into how digital assets revolutionize consumer experiences and the broader economic landscape. The session presented an array of discussions ranging from payments to blockchain’s role in consumer applications, focusing on the immense opportunities within the ASEAN market.

A panel on the “Next Generation of Payment” kicked things off, featuring innovators like Hieu Do (Head of Partnership of Holdstation), Cody Li (Founder of Terminus.network), and Cem Arcan (Head of Ecosystem of Next Generation). This was followed by a panel discussion on “Building Digital Markets with RWA,” where Mary Tran (CEO of Orochi Network), Wynn Le (Manager Director of SSI Digital), and CK Ong (COO of SBI Digital Market) shared their expertise.

Raymond Chu, Director of Thailand International Digital Business & Finance Center (TIDC), then delivered a keynote on “A Gateway to Southeast Asian Digital Growth,” highlighting the region’s unique market dynamics. The afternoon sessions also included a deep dive into “Future Innovation and Security in Blockchain,” with contributions from Celine Chong (Sales Engineer of Figment), Vi Vi (Co-Founder of ZKP Labs), and Will Huang (Ecosystem Lead of TONX). Yuki Zhou (HK Hub Lead of TON Society), Jenny Nguyen (COO of Kyros Ventures), Son Ho (MD and Head of Investment of k300 ventures) and Vanny Ha (Head of Vietnam of Kaia LTD Foundation) then took the stage to discuss Web3 Consumer App in ASEAN Market.

The event concluded with a keynote from Trần Kim Duy Lân, Lecturer of HUTECH University, focusing on the future impact of technology on blockchain and AI. The “Blockchain & Fintech Fiesta” networking hour wrapped up the event, fostering connections and discussions among innovators, industry shapers, youngsters and enthusiasts.

“We are glad to have hosted the event at the prestigious Vietnam National Convention Center, together with leading financial and technology companies like SSI Securities Corporation (SSI) and FPT,” said Alicia Kao, Managing Director of KuCoin. “KuCoin will continue to support the AI and blockchain technology innovation in Vietnam and provide platform and resource to the local community in education, incubation and mentorship.”

KuCoin has also collaborated with volunteers from prestigious Vietnamese universities, including Diplomatic Academy of Vietnam, Foreign Trade University, Academy of Journalism and Communicationand etc, offering enriching experiences and learning opportunities for the younger generation interested in blockchain, AI, and fintech industries. This partnership highlights KuCoin’s commitment to educational development. It stands as a cornerstone of KuCoin’s global corporate social responsibility initiatives, aiming to foster a knowledgeable and skilled future workforce in the rapidly evolving tech landscape.

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About KuCoin

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.

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