Litecoin’s Mining Power Tanks to Lowest in Year Following Price Plunge

Litecoin’s Mining Power Tanks to Lowest in Year Following Price Plunge 1

The new dynamic in the litecoin market offers a lesson in the emerging economics of the fast-growing cryptocurrency and blockchain industry, which relies on networks of computers to confirm and record transactions, using a combination of incentives. Key inputs include the speed and efficiency of the data-mining computers, local electricity costs and even the ambient temperature; cold climes are considered ideal because less power is needed to run cooling fans for the computers, which typically run 24 hours a day, seven days a week – that is, when it’s profitable to do so.  

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin29,288 0.09 % 3.94 % 2.13 %
Ethereum1,966.6 0.28 % 4.99 % 2.93 %
Tether1.000 0.02 % 0.15 % 0.09 %
BNB321.34 1.15 % 2.34 % 7.77 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
XRP0.4075 0.28 % 3.77 % 3.79 %
Binance USD1.002 0.26 % 0.13 % 0.02 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana49.23 0.12 % 8.30 % 8.23 %
Dogecoin0.08298 0.92 % 5.30 % 5.70 %

bitcoin
Bitcoin (BTC) $ 29,253.00
ethereum
Ethereum (ETH) $ 1,964.99
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 323.40
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.40686
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.513904
solana
Solana (SOL) $ 49.16
dogecoin
Dogecoin (DOGE) $ 0.083653