Crypto 101 · Proof of work
What Is Litecoin Mining? Live Stats, Profitability and Miners
Abstract
Litecoin is mined with the Scrypt algorithm. We explain what Litecoin miners do, show the live network statistics from Scrypt Wallet's node, estimate what a common Scrypt ASIC could earn, list compatible miners, and explain how merged mining lets the same hashrate also earn Dogecoin and other Scrypt coins before showing how to receive the payouts.
Keywords: Litecoin mining, Scrypt ASIC, Antminer L9, LTC mining profitability, merged mining
1. What Litecoin mining is
Litecoin is secured by proof of work, like Bitcoin, but with a different puzzle. Miners run Scrypt, a function designed to be expensive in memory as well as computation [1, 2]. They gather transactions into blocks and compete to find one that meets the network's target; the winner earns newly created LTC and the block's fees. Blocks arrive about every 2.5 minutes, and the reward is halved every 840,000 blocks [3].
2. The network right now
3. What could a Scrypt miner earn?
Enter your own numbers; the defaults are the listed rating of the Bitmain Antminer L9 [4]. Because a Scrypt machine can also earn Dogecoin at the same time, the estimate below adds both coins and counts electricity once.
4. Compatible miners
Litecoin needs a Scrypt ASIC. Two models the Scrypt calculator knows are the Antminer L9 and the L7. SHA-256 machines, which mine Bitcoin, cannot mine Litecoin. Check a machine's listed hashrate and power, then measure the real values at your wall. The method for turning them into a profit estimate is in mining profitability.
5. Merged mining: Litecoin plus Dogecoin
Litecoin and Dogecoin share the Scrypt algorithm, so a pool that supports merged mining lets one machine work on both chains at once through auxiliary proof of work [5, 6]. The electricity is used once; rewards arrive in LTC and DOGE. The mechanism is explained in merged mining explained, and you can see Dogecoin's side in Dogecoin mining and on the Dogecoin price page.
6. Before you buy a miner
Check the machine's listed hashrate and power, then price your electricity honestly, including cooling. Run the estimate with pool fees and a lower coin price than today's, so you know how you would fare in a weaker market. Remember that a miner is a depreciating asset and that difficulty tends to rise as more hashrate joins; see hashrate and difficulty.
7. Getting paid
Your pool sends earnings to an address you provide. A wallet where only you hold the key is the safest place to receive them. Create a Litecoin wallet, copy its receive address into your pool's payout settings, and check the balance under Activity. For coin-by-coin detail see the Litecoin price page and the Litecoin mining calculator.
References
- Percival, C. (2009). Stronger Key Derivation via Sequential Memory-Hard Functions. BSDCan 2009; the paper that introduced scrypt. https://www.tarsnap.com/scrypt/scrypt.pdf
- Lee, C. (coblee) (2011). [ANN] Litecoin - a lite version of Bitcoin. Launched!. Announcement thread, Bitcointalk, 9 October 2011. https://bitcointalk.org/index.php?topic=47417.0
- Litecoin Project (2011). chainparams.cpp. Litecoin Core source code: main-net consensus parameters (halving interval 840,000; 2.5-minute target spacing). https://github.com/litecoin-project/litecoin/blob/master/src/chainparams.cpp
- ASIC Miner Value (2024). Bitmain Antminer L9. Listed specifications (hashrate, power) of the Antminer L9 Scrypt ASIC. https://www.asicminervalue.com/miners/bitmain/antminer-l9
- Bitcoin Wiki contributors (2011). Merged mining specification. Bitcoin Wiki: how one proof of work can secure more than one chain (auxiliary proof of work). https://en.bitcoin.it/wiki/Merged_mining_specification
- Dogecoin Core developers (2013). chainparams.cpp. Dogecoin Core source code: 60-second target spacing; AuxPoW (merged mining) effective from block 371,337. https://github.com/dogecoin/dogecoin/blob/master/src/chainparams.cpp
Common questions
What hardware mines Litecoin?
Scrypt ASICs such as the Bitmain Antminer L7 and L9. Bitcoin's SHA-256 miners cannot mine Litecoin.
Can I also mine Dogecoin while mining Litecoin?
Yes. Litecoin and Dogecoin can be merge-mined, so the same hashrate can earn both when your pool supports it.
General education, not financial, tax or legal advice. Figures are schematic. Protocol parameters are cited to primary sources and can change; verify against the linked source before relying on them.