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.

The post BIT Mining Announces Commitment to Litecoin (LTC) and Dogecoin (DOGE) Mining, Bringing Increased Profitability appeared first on News, Events, Advertising Options.

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SINGAPORE, Dec. 4, 2024 /PRNewswire/ — Interlace, a global card issuance and digital asset management platform based in Singapore, announced today that it has raised $10 million in its Series B1 funding round. The round was led by Bitrock Capital, with participation from prominent individual investors in the fintech industry, including early employees and senior managers from leading companies such as Klarna and Robinhood.

To date, Interlace has issued over 4.5 million cards, partnered with 100+ integrated partners, and processes over 60 million transactions annually. The new funding will support Interlace’s continued global expansion into key markets such as Asia-Pacific (APAC), the United States, and the United Kingdom. A significant portion of the investment will be allocated to building an international team, enhancing the company’s ability to serve a diverse and global client base.

To drive this ambitious expansion, Interlace is pleased to announce the addition of four seasoned executives to its leadership team:

• Rob Vanden Broeke – Head of Global Financial Partners
  Rob is an accomplished executive in fintech, payments, and technology, with a strong background in integrated partnerships, Banking-as-a-Service (BaaS), and global payment solutions across various industries. At Interlace, Rob will focus on expanding global banking and fintech partnerships, scaling banking, card, and global payment solutions. His efforts will drive strategic partnerships and innovative financial products to broaden access to financial services for B2B and B2C clients worldwide.
• Jeff Brunjes – Head of Global Operations
  Combining deep institutional finance expertise with strategic innovation, Jeff advances Interlace’s global mission by streamlining client experiences and building trust through operational excellence. Drawing from his background in investment banking operations and private wealth advisory, he brings a unique understanding of traditional financial processes and emerging digital asset opportunities. Jeff’s balanced approach positions Interlace as a trusted partner for businesses navigating the future of financial services.
• Mark Homeier – Head of Marketing and Business Development
  Mark brings over two decades of experience in fintech, blockchain, marketing, and business development. Specializing in global growth strategies for innovative financial platforms, he focuses on creating efficient and cost-effective money management solutions. Mark’s expertise in enhancing Web3 usability and integrating cryptocurrency technologies will be instrumental in navigating technology-driven markets and fostering sustainable development.
• JP Eaglin – Creative Director and Strategic Partnerships
  With over 25 years of experience developing and launching brands in the US, Latin America, and Asia, JP joins Interlace with his creative agency, Vanguard42. As Creative Director, he will oversee the rebrand and spearhead global marketing efforts. JP’s role in strategic partnerships will further enhance Interlace’s business development rollout, strengthening the company’s international presence.

“We are thrilled to welcome Mark, Jeff, Rob, and JP to our leadership team,” said Michael Wu, Founder and CEO at Interlace. “Their combined expertise and vision align perfectly with our mission to revolutionize global financial solutions. This expansion of our team, along with the new funding, positions us to accelerate our global growth and enhance our services for clients worldwide.”

Bitrock Capital expressed strong confidence in Interlace’s vision and capabilities.

“The Bitrock team is really impressed with Interlace’s technological and product capabilities. In only a couple years they have developed effective and compliant solutions to help cross border merchants make and receive payments,” said Alfred Shang, Founding partner at Bitrock Capital. “We think Interlace is uniquely positioned to capture the significant opportunities in the global payment markets with its young and eager management team and robust fintech capabilities. Bitrock will continue to support Interlace’s strategic and business development to create exceptional value for exporters and merchants as they navigate the challenging global trade and finance markets.”

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Founded in 2019, Interlace delivers the most efficient and cost-effective cross-border, cross-currency, and cross-system financial solutions for Web3, cross-border e-commerce, B2B trade, developers, and more. Operating in strict compliance with global regulations, Interlace holds the highest security certification in the international card payment industry, PCI-DSS Level 1, and is licensed in the United States, Hong Kong, and Lithuania.

About Interlace

Interlace is an enterprise-level global card issuance and digital asset management company based in Singapore, dedicated to delivering efficient and cost-effective cross-border, cross-currency, and cross-system financial solutions. Serving sectors such as Web3, cross-border e-commerce, B2B trade, and software developers, Interlace operates in strict compliance with global regulations. The company holds the PCI-DSS Level 1 security certification and is licensed in the United States, Hong Kong, and Lithuania. Interlace is committed to innovating financial technology solutions that facilitate seamless global transactions and connectivity.

Photo – https://mma.prnewswire.com/media/2573077/Interlace_money_Leading_Payments_Revolution.jpg

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