Dogecoin mining profitability is actually higher than that of bitcoin, according to data from the mining calculator website CoinWarz. With the market seeing declines over the past year, the mining industry has taken a hit when it comes to its profitability. This is evidenced by multiple miners going bankrupt while others continue to struggle to keep the lights on. With prices so low, it looks like it is more profitable to mine the meme coin than the OG bitcoin.
Dogecoin’s Profitability Is 480% Higher Than Bitcoin
The mining profitability chart from CoinWarz shows that while the mining profitability has stayed mostly flat for bitcoin over the last 14 days, Dogecoin has been seeing a rise. This is also in spite of Dogecoin miners recording higher electricity rates compared to bitcoin.
The chart below shows that where DOGE miners are reportedly paying $8.22 for electricity, BTC miners are paying $7.22 for electricity. However, the profit margins were vast for both digital assets. Mining
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