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BIT Mining Company announced that it had 227 million DOGE ($95 million) and 84 thousand 400 Litecoin ($11 million) as of November 27. The company stated that the profit from mining both coins is about 3 times higher than mining Bitcoin.
Following the announcement, shares of BIT Mining (BTCM) rose more than 10% on the New York Stock Exchange.
The company, which started mining Dogecoin and Litecoin in May 2023, also mines Bellscoin (BEL) in addition to DOGE and LTC. BIT mining, which also has thousands of bitcoin mining machines, has a negligible share of the total hash rate, such as 1.32%.
As you may recall, BIT Mining Limited, formerly known as 500.com and a gaming site in the past, later turned into a mining company. In 2021, Bee Computing was purchased and the company’s cryptocurrency mining hardware production capacity was transferred to BIT Mining.
The marathon had also started.
Marathon, which is seen as the largest cryptocurrency mining company in the USA and the world, also announced that it started mining Kaspa in addition to Bitcoin last year. In a statement in June, it said the company had Kaspa worth $16 million.
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