{"id":144021,"date":"2024-12-05T19:30:35","date_gmt":"2024-12-05T17:30:35","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144021"},"modified":"2024-12-05T15:06:26","modified_gmt":"2024-12-05T13:06:26","slug":"mining-company-sees-profit-surge-after-shifting-focus-from-bitcoin-to-dogecoin-and-litecoin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/mining-company-sees-profit-surge-after-shifting-focus-from-bitcoin-to-dogecoin-and-litecoin\/","title":{"rendered":"Mining Company Sees Profit Surge After Shifting Focus From Bitcoin to Dogecoin and Litecoin"},"content":{"rendered":"

According to the company’s latest statement<\/a><\/strong>, diversifying into Dogecoin<\/a> <\/strong>and Litecoin<\/a> <\/strong>has increased profitability nearly threefold compared to Bitcoin<\/a> <\/strong>alone.<\/p>\n

As of November 27, BIT Mining reported mining over 227 million DOGE, valued at $94.8 million, and more than 84,000 LTC, worth $10.7 million. However, the company did not disclose how much of these assets were retained. BIT Mining also noted it held 22.6 BTC, which was worth $2.2 million at the end of 2023.<\/p>\n

The company\u2019s VP and chief economicost, Youwei Yang, attributed some of the success to the recent surge in Dogecoin\u2019s value, driven in part by the influence of Elon Musk and the political landscape following Donald Trump\u2019s election. BIT Mining\u2019s stock saw a boost on December 4, rising 10% to $3.26, while most Bitcoin mining firms experienced more modest gains.<\/p>\n