Blockchain
BIT Mining Announces Commitment to Litecoin (LTC) and Dogecoin (DOGE) Mining, Bringing Increased Profitability
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 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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Blockchain
Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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