BIT Mining Limited commits to mining Litecoin and Dogecoin, positioning for success in evolving cryptocurrency market.

From Investing.com

December 4, 2024 05:55 AM:

BIT Mining Limited (BTCM) is committed to self-mining Litecoin (LTC) and Dogecoin (DOGE) alongside Bitcoin (BTC) mining, proving to be nearly three times more profitable than mining BTC alone. With over 84,485.42 LTC and 227,908,250.38 DOGE mined, the Company represents 1.32% of the global network hash rate in LTC/DOGE/BEL.

CEO Xianfeng Yang believes BIT Mining’s technology and strategy position them for success in the evolving cryptocurrency market. The Company’s acquisition of Bee Computing led to the development of power-efficient LD3 miners, increasing profitability and solidifying their market leadership in LTC/DOGE/BEL mining.

Chief Economist Dr. Youwei Yang notes the recent rally in Litecoin and Dogecoin profitability, driven by factors like Elon Musk’s influence and regulatory changes. With optimism in blockchain technology and network interoperability, analysts predict continued growth in DOGE and LTC through 2025, reflecting confidence in the cryptocurrency industry.

BIT Mining’s expansion into Ethiopia highlights their commitment to industry innovation and international partnerships. With a focus on mining machine development and data center operations, the Company is well positioned to thrive in the dynamic crypto environment, leveraging their technology and strategic foresight for long-term success.

Read more at Investing.com: BIT Mining Limited Announces Commitment to Litecoin (LTC) and Dogecoin (DOGE) Mining By Investing.com