We’ll describe the coins you can mine with the Bitmain Antminer L7 in this article and show you the specifics of the most well-known coins.
The Bitmain Antminer L7 runs on the Scrypt algorithm and is one of the most profitable ASIC miners on the market, which can mine both Dogecoin (DOGE) and Litecoin (LTC). The best option for mining LTC uses the extremely high-quality BM1489 chip, which has a 9500 MH/s hash rate and 3425W of power consumption, which is equivalent to 20 Antminer L3+. Additionally, the Scrypt algorithm is supported by Antminer L7 for all cryptocurrencies. Therefore, you can also add the following projects: Florincoin (FLO), Auroracoin (AUR), Gulden (NLG), GameCredits (Game), Emerald (EMD), Einsteinium (EMC2), and many others. Let’s take a closer look at the ten coins that can currently be mined with this mining apparatus.
The prices of all cryptocurrencies mentioned in the article are indicated as of Jan 13, 2023
Table of Contents
Bitmain Antminer L7 Overview
Antminer L7 uses the Scrypt algorithm for Dogecoin, and Litecoin mining and can achieve hash speeds of up to 9050MH/s, and power consumption of only 3425W which represents the best value for money ASIC miners in the world.
The Antminer L7 is a high-performance cryptocurrency mining machine designed specifically for mining Litecoin. It is the latest addition to Bitmain’s Antminer series and is equipped with advanced mining technology to deliver high hash rates and energy efficiency.
Antminer L7 Features:
- Hash rate of up to 9.5GH/s
- Power consumption of 3425W
- Uses the Scrypt mining algorithm
- Comes with a built-in power supply
- Can mine other Scrypt-based cryptocurrencies
- High hash rate and energy efficiency make it a profitable investment for cryptocurrency miners
- Advanced mining technology ensures reliable and stable performance.
Popular Coins That You Can Mine With Bitmain Antminer L7
Bitmain Antminer L7 was created by professional miners and chip manufacturers in China. Large mining farms frequently use it because of its great technical and customer support. It is a dual miner for DOGE and LTC. As long as the crypto is based on the Scrypt algorithm, you can earn a decent return from mining with the Bitmain Antminer L7.
The Bitmain Antminer L7 can be used to mine the following coins for respectable rewards.
Market cap: $10,637,312,257
Dogecoin (DOGE) is based on the popular “doge” Shiba Inu is featured on the logo of this internet meme. The open-source cryptocurrency was developed by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and forked from Litecoin in December 2013. Given that Dogecoin was based on a dog meme, its developers thought it would appeal to people outside of the core Bitcoin audience and be amusing and lighthearted. Elon Musk, the CEO of Tesla, frequently mentioned Dogecoin on social media. The Antminer L7 can mine Dogecoin with a hash rate of up to 9500 MH/s.
How Do You Mine Dogecoin?
Scrypt technology is one of the ways Dogecoin’s proof-of-work protocol differs from Bitcoin’s. Additionally, the altcoin has a block time of one minute and an unlimited total supply, meaning that it is possible to mine as many Dogecoins as you want. Dogecoin can be mined either individually or by joining a mining pool. A GPU and Windows, Mac, or Linux can be used to mine Doge on these platforms. Since the mining of Dogecoin and Litecoin were combined in 2014, you can now mine both currencies simultaneously.
What Can Dogecoin Be Used For?
Dogecoin has primarily been used as a tipping system on Twitter and Reddit to encourage the creation or sharing of high-quality content. Participating in a community that accepts the virtual currency can earn you tips in Dogecoin, or you can purchase it from a Dogecoin faucet. A website known as a “Dogecoin faucet” will provide you with a small amount of free Dogecoin as an introduction to the cryptocurrency so that you can start interacting in Dogecoin communities.
Market cap: $6,141,788,848
By utilizing the special qualities of blockchain technology, Litecoin (LTC) is a cryptocurrency that was created to offer quick, safe, and affordable payments. The Antminer L7 is capable of mining Litecoin with a hash rate of up to 9500 MH/s.
Check out our in-depth analysis of Litecoin to find out more about this project.
The cryptocurrency was developed using the Bitcoin (BTC) protocol, but it differs from Bitcoin (BTC) in a few ways, including the hard cap, block transaction times, and the hashing algorithm employed. Microtransactions and point-of-sale payments are both suitable uses for Litecoin, which has a block time of only 2.5 minutes and extremely low transaction fees.
On October 1, Litecoin was made available via an open-source client on GitHub. 7, 2011, and the Five days later, on October 2, the Litecoin Network went live. 13, 2011. Since then, its usage and acceptance among businesses have skyrocketed, and for the majority of its existence, it has consistently ranked among the top ten cryptocurrencies by market capitalization.
The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a “lite version of Bitcoin,” in that it features many of the same properties as Despite its lighter weight, Bitcoin.
Market cap: $148,121,680
A blockchain and asset creation platform that is open source is called DigiByte (DGB). DigiByte (DGB) can be mined with Bitmain L7. As a fork of Bitcoin (BTC), development started in October 2013, and the genesis block of its DGB token was mined in January 2014.
DigiByte is a well-established public blockchain and cryptocurrency. It was designed to enhance the security, capacity, and transaction speed of the Bitcoin blockchain.
DigiByte consists of three layers: a smart contract “App Store,” a public ledger and the core protocol featuring nodes communicating to relay transactions.
Market cap: $46,312,274
Verge is a cryptocurrency and blockchain that prioritizes privacy and aims to outperform the original Bitcoin (BTC) blockchain by providing a quick, effective, decentralized payments network. It also has additional privacy features, such as the ability to send transactions to stealth addresses and integration of the Tor anonymity network into its wallet, vergePay.
The project takes pride in being open source, says it is community-driven, and depends on volunteers.
In October 2014, DogeCoinDark, a fork of Peercoin (PPC), saw its initial release. It was rebranded as Verge in February 2016 in order to appeal to a wider audience and set itself apart from Dogecoin (DOGE), with which it has no direct affiliation. On the Bitcoin source code, the project is now built. The L7 miner can mine Verge with a hash rate of up to 9500 MH/s.
Market cap: $1.24 M
Gulden is a digital asset platform that seeks to offer a safe and secure trading environment to Users registered with the Dutch National Bank (DNB). It also can be mined with Antminer L7. According to its website, the Gulden blockchain network intends to be one of the safest decentralized networks in the world without large energy consumption. Additionally, Gulden asserts to have a vibrant community that guarantees that all user inquiries are quickly answered.
As per its whitepaper, the platform intends to solve problems commonly associated with blockchain networks, including double-spend, selfish mining, 51 percent attacks, centralization, and more. Selfish mining is when a miner waits to broadcast a solved block because they want to start mining another one. The same goes for Gulden, which aims to address issues like transaction capacity restrictions and blockchain stalling brought on by an unexpected lack of miners or new blocks.
Gulden states that various measures, which were used to overcome the limitations of blockchain, like alternative algorithms, Proof-of-Stake (PoS), hybrid consensus techniques, algorithms for difficulty adjustment, etc., have failed. Therefore, the platform seeks to implement an improvised Proof-of-Work (PoW2) consensus mechanism on the network created to thwart 5 percent attacks is known as PoW2. The platform also plans to implement a 0-conf solution, a two-layer network that would allow for immediate block confirmations when necessary.
NLG is the native cryptocurrency of the Gulden platform. The token is created using an innovative mining technique, where miners need witnesses to verify and validate every block created. Therefore, in order to avoid a loss, the miner must share the block. According to the network, this ensures that all miners follow the rules.
Market cap: $2,369,719
The Ethereum network is the operating platform for the ERC-20 cryptocurrency GAME Credits. The first cryptocurrency to exclusively focus on gaming and transform in-game purchases is this particular asset. Together with a creator community, the platform is currently creating a decentralized metaverse game. The term “metaverse” refers to a vast virtual environment with enormous social and financial potential, where the use of blockchain enables the exchange of virtual goods for money with actual market value. In addition, the network uses application programming interfaces (APIs) and smart contracts to deliver a multi-utility platform. The Bitmain Antminer L7 can mine GameCredits with a hash rate of up to 9500 MH/s.
According to the whitepaper, gamers used to be able to trade game assets with the traditional gaming industry. The main issue was that until the game’s creators approved it, players could only trade these assets. In the event that the project’s developers decided to end it, players could not use these resources. By utilizing the strengths of blockchain, cryptocurrencies, and non-fungible tokens (NFTs), GAME Credits aims to address this problem. This platform fully controls in-game resources through NFTs, aiming to make the GAME enjoyable for both players and developers. Players can now use smart contracts and GAME Credits to transact or exchange in-game goods across the network in the form of NFTs.
The asset includes a set of gaming tools that utilize blockchain technology. GAME Tournament Organizer, GAME Reward System, GAME Exchange, and GAME Foundry NFT creator tool are a few features. The platform also aims to make it possible for game developers to work efficiently without any prior knowledge of blockchain technology. On GAME Foundry, developers can create NFTs to earn commissions.
The ticker for the token is GAME. These tokens are used by GAME Credits participants to create, exchange, and transfer digital in-game assets. These tokens can be used by players or communities to participate in or host GAME tournaments. Keeping these tokens enables players to acquire more in-game items.
Price: $ 0.0036309
Market cap: $ 69,413.02
Emerald is another coin that can be mined with Antminer L7. Emerald is a fault-tolerant, unstoppable, and decentralized cryptocurrency wallet and payment infrastructure with a non-custodial security focus.
Market cap: $1,469,271
A community-driven cryptocurrency called Einsteinium (EMC2) uses blockchain technology to raise money for scientific research.
A mining tax is used to achieve this, creating a fund from which grants can be awarded to deserving candidates. The community will vote on which scientific project to fund, and mined blocks will be required to donate 2.5% of their value to the Einsteinium Foundation’s fund. The Einsteinium Foundation is working to bring attention to a variety of initiatives and causes by incorporating crowdfunding into the process. The Foundation has reportedly given 16 million EMC2 coins to science projects so far.
EMC2 is a Scrypt coin that uses the Kimoto gravity well to democratize mining with a 50% block reduction and a 60 second block time. Wallets for Android, Windows, and Mac are all supported by the EMC2 coin. It can be mined with Antminer L7.
Market cap: $375,771
Scrypt-minable FLO is a cryptocurrency with rapid transaction processing which can be mined with Antminer L7. Transaction comments are a new feature introduced by Florincoin. Due to these transaction comments, Florincoin is able to support a variety of novel blockchain enhancements and applications.
Price: $ 0.0318
Market cap: $ 473,985
Peer-to-peer cryptocurrency Auroracoin (AUR) was introduced on January 24, 2014 as an Icelandic substitute for bitcoin and the Icelandic króna. It also can be mined with Bitmain Antminer L7. Half of the 21 million total coins were premined by the unidentified creator or creators under the pseudonym Baldur Friggjar Óðinsson for the 330,000 Icelandic residents who reside in Iceland.
On March 25, 2014, Phase I of this groundbreaking national ID-enforced airdrop began, offering 31.8 auroracoins per claimant. Phases II and III came to an end in 2015, with 318 and 636 auroracoins per claimant, respectively.
40 percent of the 10.5 million premined coins were claimed, 10 percent were donated to the Auroracoin Foundation (M1 fund), and 50 percent were indisputably destroyed. (AURburnAURburnAURburnAURburn7eS4Rf)
A hard-fork to a multi-algorithm (PoW) code change occurred in 2016. There was also a block-time change from 10 minutes to 61 seconds, a corresponding change in block-reward, resulting in a “halvening schedule” change and increase of maximum coins to 23.3 million. ( Adjusted to 17.97 million after 5.345 million burned )
When the Icelandic Blockchain Foundation (Rafmyntaráð) was established in 2018, it was decided to liquidate 80% of the M1 fund to increase Auroracoin’s blockchain advocacy efforts there.
With the aim of providing an alternative to inflationary fiat currencies, Auroracoin released another significant major release in 2021 and continued to be volunteer-driven and use open-source technology.
Considering how volatile the price of cryptocurrencies can be, treat these profitability estimates with caution. It may rise, making mining even more worthwhile, or it may fall, resulting in lower profits. How profitable Antminer L7 mining is also depends on the network difficulty.
What is Scrypt?
Scrypt was one of the initial hashing algorithms used on blockchain networks. It is an effort to advance the SHA-256 hashing algorithm, which was used previously.
Password-based Key Derivation Function
A key derivation function (KDF) that uses a password is called Scrypt. KDFs are hash functions used in cryptography to generate one or more secret keys from secret values like master keys, passwords, or passphrases by using a pseudorandom function. In general, KDFs are effective at stopping brute force password guessing attacks.
However, prior to the creation of Scrypt, FPGAs and ASICs could only be partially circumvented by KDFs like Password-Based Key Derivation Function 2 (PBKDF2). While not memory intensive, PBKDF2 and other password-based KDFs required a lot of computation. Scrypt was made to take up a lot of memory and have a high computational cost.
Scrypt was created as a countermeasure to the spread and dominance of ASIC mining rigs and the subsequent centralization of cryptocurrency mining. Scrypt is a blockchain-related upgrade to SHA-256, which is used by the Bitcoin network and other Proof of Work networks that support virtual currencies.
Miners must quickly produce random numbers due to Scrypt’s design. These figures must be kept in the processor’s Random Access Memory (RAM), which needs to be continuously accessed prior to submitting a result. In comparison to SHA-256 networks, Scrypt networks typically have much lower hash rates. For instance, Litecoin (LTC) has a hash rate of about 138 TH/s as of the time of writing. An estimated 93,000,000 TH/s are used to hash Bitcoin.
Origins of Scrypt
Scrypt is an algorithm that was created to increase network security against attacks using specialized hardware. It is memory-hard. Scrypt was initially developed for another use case and later implemented on blockchain networks, in contrast to other hashing algorithms like Equihash and CryptoNight, which were created specifically for Proof of Work blockchains.
Prominent Projects That Use Scrypt Algorithm
Three well-known projects that use Scrypt are Litecoin (LTC), Dogecoin (DOGE), and Einsteinium (EMC2). The use of Scrypt by each of these networks and its efficiency in preserving network security will be examined in this section. We’ll also examine a few projects that used Scrypt in the past but have since switched to other hashing algorithms.
Advantages and Applications of Scrypt
- less complicated than other mining algorithms.
- significantly less energy is used than with other algorithms like SHA-256.
- Scrypt coins generally require lower fees for transactions on their blockchains
- Mining Scrypt is four times faster than mining Bitcoin.
- Excellent way to encrypt files, wallets, and passwords.
Conclusion: Antminer L7 is a Dual Miner of LTC Coin and DOGE Coin
One of the most successful ASIC miners available today uses the Scrypt algorithm and is called the L7. You can mine Dogecoin (DOGE) and Litecoin (LTC), Utilizing the Scrypt algorithm, it is used by DigiByte (DGB), Verge (XVG), Gulden (NLG), GameCredits (Game), Emerald (EMD), Einsteinium (EMC2), Florincoin (FLO), Auroracoin (AUR), and other Scrypt-based coins. Among which the most lucrative cryptocurrency are both Dogecoin and Litecoin.
What is the Most Popular Coin to Mine With Antminer L7?
The L7 runs on the Scrypt algorithm and is one of the most profitable ASIC miners on the market, which can mine both Dogecoin and Litecoin.
How Profitable is the Bitmain Antminer L7 (9.5Gh)?
Dogecoin is mined using the Bitmain Antminer L7 (9.5Gh) device. At the current DOGE price of $0.08, the Bitmain Antminer L7 (9.5Gh) is mining $21.11 a day before power cost is subtracted.
At an electricity cost of $0.08 per kwH, the daily profit of this miner would be $14.53.
How Much Dogecoin Does the Bitmain Antminer L7 (9.5Gh) Mine Per Day?
The Antminer L7 (9.5Gh) currently mines 140.19 DOGE a day.