Bit Mining Launches New Litecoin/Dogecoin Miners, Shares Surged

Key Points:

• Bit Mining announced a new Litecoin and Dogecoin mining machine dubbed LD3.
• It is one of a select few cutting-edge solutions that offer the quickest payback period for LTC/DOGE mining while delivering a highly cost-effective performance.

Bit Mining announced the availability of their cutting-edge, model LD3 Litecoin and Dogecoin mining device, which was created exclusively for mining on the DOGE and LTC blockchains.

The LD3 machine is more efficient in terms of energy usage than its predecessors because of its power efficiency of 0.73 W/MH and 4800 MH/s supply. According to a release, it is one of a select few cutting-edge solutions that offers the quickest payback period for LTC/DOGE mining while delivering a very cost-effective performance.

The LD3s leave more than a 10% performance cushion for computing power chips since the machines are built for dependability rather than forcing them to operate under harsh settings.

Xianfeng Yang, CEO of BIT Mining, said:

“The unveiling of the LD3 mining equipment marks a significant advancement for BIT Mining Limited as this next generation of LTC/DOGE miners will push the industry ahead with currently unmatched technical specs.”

Over 5,000 of the new LD3 miners have already been created for usage internally at Bit Mining and for sale to the general public. Since the completion of its acquisition of mining gear firm Bee Computing in 2022, the company has created two ASIC miners, the second of which is LD3. In August 2022, the first ASIC Ethereum Classic (ETC) mining device was successfully released.

Following the disclosure of the news, Bit Mining’s stock increased by roughly 40%, and Tuesday’s closing price was $4.36.

It changed the ADS ratio last month, which was equivalent to a one-for-ten reverse share split. That came after the New York Stock Exchange issued a warning in August because shares were trading for less than $1. Six months were granted to Bit Mining to comply.

As Coincu reported, BIT Mining’s subsidiary BTC.com suffered a $3 million loss of digital assets as a result of a cyberattack in December. $2.3 million of the stolen fund belonged to it, and $700,000 belonged to BTC.com’s customers. The corporation withheld information about the stolen assets.

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Harold

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