Key Highlights
- Bitdeer launched the SEALMINER DL1 Air, a Scrypt-based miner for Litecoin and Dogecoin.
- The move supports merged mining, enabling simultaneous rewards from multiple compatible blockchains.
- Following the announcement, Bitdeer’s shares rose nearly 9%, reflecting investor attention to the company’s diversification strategy.
Crypto mining firm Bitdeer has introduced a mining machine built specifically for the Scrypt algorithm, allowing simultaneous participation in networks such as Litecoin and Dogecoin.
The device, called the SEALMINER DL1 Air, marks a departure from the company’s traditional focus on Bitcoin, which uses a different proof-of-work algorithm.
Following the announcement, shares of Bitdeer rose over 9%, trading at $8.19, according to Yahoo Finance. This reflects investor attention to the company’s diversification strategy.
Designed for merged mining efficiency
According to the company, Scrypt-based machines can take advantage of merged mining, a process that allows miners to validate multiple compatible blockchains simultaneously. In practice, mining Litecoin can also yield Dogecoin rewards without additional computational work, since the two networks share the same underlying algorithm.
Bitdeer has framed the model as a way to generate multiple revenue streams from a single hardware investment.
Performance specifications and supported chains
According to the company, the new machine delivers a hashrate of about 25 GH/s with power efficiency around 149 J/GH, using an air-cooled design derived from its existing SEALMINER lineup.
Beyond Litecoin and Dogecoin, the hardware can also mine smaller Scrypt-based cryptocurrencies such as Bellscoin, Junkcoin, Luckycoin, and Pepecoin. These networks typically have lower difficulty levels but also less market liquidity than major cryptocurrencies.
Pivot from Bitcoin-centric mining
Bitdeer was founded by Jihan Wu, a former Bitmain executive, and has traditionally been involved in Bitcoin mining infrastructure and cloud mining. Recently, the company has made significant efforts to design its own ASIC chips.
The expansion into Scrypt hardware appears to be an attempt to diversify revenue streams during a period in which the economics of Bitcoin mining are being challenged by network difficulty and costs.
Diversification amid industry changes
Similar to other mining companies, Bitdeer has ventured into other related areas, such as high-performance computing and artificial intelligence infrastructure. The company recently sought funding to facilitate data center expansion, which is a general trend among mining companies looking for alternative uses for their power and hardware resources.
Moreover, Bitdeer has been involved in some legal battles, such as a class-action lawsuit over securities in the United States concerning announcements about the timeline for chip development.
Why it matters
The emergence of hardware that is Scrypt-centric is indicative of the fact that mining firms are responding to the changing dynamics of the Bitcoin environment.
By focusing on networks that support merged mining, firms can look to diversify revenue streams and not be dependent on a single blockchain, a move that could become more prevalent in the future as the mining landscape evolves.
Also Read: BTC Eyes $75K Breakout as ETH, PEPE, FET, and AI Tokens Lead Crypto Rally
