Mining Company Announced: These Two Altcoins Are Three Times More Profitable Than Bitcoin Mining!

BIT Mining, a cryptocurrency mining company, revealed striking results regarding Bitcoin and altcoin mining in its latest statement.

These results indicate a significant strategy change in the cryptocurrency mining industry, and BIT Mining announced that Dogecoin (DOGE) and Litecoin (LTC) mining yields much more profitable results compared to Bitcoin (BTC) mining.

According to BIT Mining, it has stated that its strategy of focusing on Dogecoin and Litecoin mining is three times more profitable than Bitcoin mining.

BIT Mining, which previously only engaged in Bitcoin mining, started mining Dogecoin and Litecoin in May 2023.

The company stated that it has conducted cryptocurrency mining with a total value of 105.5 million dollars until November 27.

The company stated that it issued DOGE worth 94.8 million dollars and LTC worth 10.7 million dollars by November 27th, but did not specify how much of the issued DOGE and LTC it holds.

BIT Mining Vice President and Chief Economist Dr. Youwei Yang also stated in his statement:

"It has been proven that LTC and DOGE mining is nearly three times more profitable than BTC mining in the face of the disclosed figures.

The changing regulatory environment in the US, especially the influence of Elon Musk and the victory of Donald Trump, has had a significant impact on mining profitability.

BIT Mining currently has over 5,550 active machines that can mine Dogecoin, Litecoin, and Bellscoin (BEL), representing 1.32% of the total network hashrate for these three altcoins, making it one of the largest participants.