Bitdeer stock rallies as firm rolls out SEALMINER machines for Litecoin and Dogecoin mining

Bitcoin mining chip manufacturer Bitdeer announced the rollout of its new SEALMINER DL1 Air mining machine, which is specifically optimized for the Scrypt algorithm used by Litecoin and Dogecoin. Following this news, Bitdeer's stock (BTDR) increased by about 8%. The new machine offers a 25 GH/s hashrate and 149 J/GH power efficiency, and it also supports other smaller Scrypt-based chains. Bitdeer noted that its Bitcoin-focused miners are ineffective for Dogecoin due to the algorithm difference (SHA-256 vs. Scrypt). The Scrypt algorithm supports merged mining, allowing users to mine Litecoin and automatically receive DOGE rewards at no extra operational cost. This launch occurs as Bitdeer diversifies its business, having recently raised funds for high-performance computing and AI infrastructure, and after the company liquidated its entire Bitcoin treasury last month.

(Source：The Block)