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 says its move to mine proof-of-work coins Dogecoin and Litecoin has been far more profitable than mining only Bitcoin.
BIT Mining, which previously only mined Bitcoin (BTC), said on Dec. 4 that its expansion into Dogecoin (DOGE) and Litecoin (LTC) “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. However, it didn’t state how much of the mined DOGE and LTC it had held onto, as both cryptocurrencies have continued to surge over the past month.
