The post Antminer L9 Coming Soon: Will Change Litecoin and Dogecoin Mining? appeared on BitcoinEthereumNews.com.

Antminer L9 is coming, with a more powerful and energy-efficient way for Scrypt mining. This hashing algorithm is key for securing the Litecoin network, while also producing Dogecoin. Scrypt miners will face a price tag above $16K, but a chance for higher profitability in mining LTC and DOGE.  Bitmain is still the main source of mining rigs, and its new models drove the arms race among miners. Proof-of-work blockchains are still a thing, and new rigs offer more energy efficiency with improved performance, to offset environmental concerns.  Antminer L9 to Be Released by the End of May The new Antminer Scrypt rig was pre-announced to arrive in May, but there is no set date. The new miner is not yet listed on the Bitmain site.  Some vendors, however, have already listed the model for presale, with a price tag starting at $14,700. The new hashing power is not expected to affect Scrypt networks for months, as the first shipments are scheduled for June.  Also read: Litecoin Price Prediction 2024-2030: Will LTC Price Hold $100? The Antminer L9 will produce up to 17.6 GH/s, competing with the overall growing mining presence for Litecoin. In the past three years, Litecoin’s mining has gradually grown, and activity is up by 500%. The hashrate is now 1.16 PH/s, breaking to a new range. But this level of mining is negligible compared to Bitcoin’s network.  Also read: How is Litecoin a Winner? LTC Leads As Most Widely-Used Coin for Payments and Simple Transactions However, for Litecoin miners, the relatively low competition allows for additional block creation and higher rewards. Litecoin is still between two halving cycles and its block reward is still 6.25 coins per block, with additional Dogecoin (DOGE) issued in every new block created.  Is the New Litecoin Miner Profitable? The big question…

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Filed under: News - @ May 17, 2024 2:18 pm