Cloud Mining News & Reviews

LTCGear Mining Temporarily OFFLINE for Share Multiplication!

LTCGear Mining

LTCGear mining is currently on maintenance mode as scheduled and announced earlier.

LTCGear is offline in order to perform share multiplication, which takes place every 6 weeks.

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Share multiplications are designed to incrase LTCGear users' hash rate in order to compensate for rising levels of difficulty in Litecoin mining.

For example, the last time multiplication took place was on September 24th, 2014, when mining difficulty level was around 34,787 (September 25th, 2014).  As of 2 days ago on November 9th, 2014, mining difficulty was at 41,502, an increase of almost 20%.

Litecoin GEAR provides share multiplications to compensate for this rise in difficulty so users can enjoy relatively stable payouts.  Without share multiplications, payouts will fall rapidly along with the rise in mining difficulty.

Based on our experience of the previous round of share multiplication, the website should be back online in less than 24 hours.

The multiplication factor has not been announced yet.  The multiple was 1.35 times in the last round.

 

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