PRABANJAN

The industry’s been busy looking over the fence at alternative platforms, but the heart of decentralization and security still lives with #Bitcoin. What if you didn’t have to choose between ironclad security and cutting-edge capabilities?

#Syscoin is reimagining what Bitcoin can do—turning PoW’s unrivaled trust into a launchpad for advanced functionalities, AI-driven economies, and next-gen DeFi. While others patch over their scaling and security issues, we’re leaning into Bitcoin’s inherent strengths.

Don’t settle for half-measures. The era of building on Bitcoin is here. Keep an eye out as we prepare to unveil what’s next.

BIT Mining saw 3X profits mining DOGE, LTC instead of just Bitcoin
BIT Mining attributed its widened profit margins from DOGE and LTC to specialized LD3 mining machines it acquired from Bee Computing in 2021.Crypto mining company BIT Mining said its move to mine proof-of-work coins Dogecoin and Litecoin has been more profitable than mining only Bitcoin.

BIT Mining, which previously only mined Bitcoin
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, said on Dec. 4 that its expansion into Dogecoin
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and Litecoin
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“has proved to be nearly three times more profitable than mining BTC alone.”

The company said up until Nov. 27, it had mined 227,908,250.38 DOGE, worth $94.8 million and 84,485.42 LTC, worth $10.7 million. It didn’t say how much of the mined DOGE and LTC it had held onto, as both cryptocurrencies have surged over the past month.

BIT Mining reported holding 22.6 BTC at the end of 2023, currently worth $2.2 million.BIT Mining’s shares are down 37% year to date, continuing a decline in the stock price since 2014.

The firm started its DOGE and LTC mining operations in May 2023 — two-and-a-half years after it changed its name from 500.com and started mining Bitcoin, moving away from being an online sports lottery.

BIT Mining now has over 5,550 active machines that can mine DOGE, LTC and Bellscoin (BEL), representing 1.32% of the total network hashrate.

Diversifying from Bitcoin isn’t a foreign idea in the mining industry
Bitcoin mining heavyweight MARA Holdings revealed it started mining Kaspa
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tokens last September, mining $16 million worth by June.

Rival miners CleanSpark and TeraWulf told Cointelegraph that they intend to continue mining only Bitcoin in the foreseeable future.

“We are not planning any diversification into other proof-of-work coins,” said CleanSpark senior vice president Harry Sudock, who added Bitcoin’s “long track record” means the company is more comfortable with mining it “for the long term.”