Dogecoin, launched as a joke cryptocurrency nearly a decade ago, is now apparently no laughing matter for miners looking to boost their earnings. Vendors at the Mining Disrupt conference in Fort Lauderdale, Florida, report rising interest in machines dedicated to mining the meme coin, alongside more established cryptocurrencies like Litecoin.
While Bitcoin mining still dominates the crypto landscape, alternative proof-of-work coins like Dogecoin (DOGE) and Litecoin (LTC) offer a revenue stream that’s catching the attention of both small-time operators and Nasdaq-listed firms. These savvy miners are leveraging “merged mining,” a technique that allows simultaneous mining of multiple cryptocurrencies, maximizing their returns.
“Mining DOGE or LTC can help miners maximize revenue,” stated Payne Cong, head of business development at ElphaPex, confirming the growing interest. Alan Martinez of hardware maker JSBIT added that while a single machine could net around $750 monthly mining DOGE, even major public companies are eyeing these opportunities.
Martinez highlighted discussions with large, Nasdaq-listed entities. VivoPower (VVPR), listed on Nasdaq, already signaled this trend last year when its subsidiary Caret Digital announced its entry into Dogecoin and Litecoin mining. CoinWarz data currently indicates a daily profit of $5.83 per machine mining DOGE, compared to Bitcoin’s $9.41, suggesting Dogecoin’s profitability is not insignificant.
Adding fuel to the Dogecoin fire, public American miner BIT Mining revealed last December that DOGE mining was actually outperforming Bitcoin in terms of profitability for them. This comes as Bitcoin mining becomes increasingly challenging and less lucrative for smaller players.
Dogecoin’s journey from internet jest to viable mining operation gained momentum after Elon Musk, now an advisor to Trump, repeatedly endorsed the coin on X. Despite its origins, Musk has praised Dogecoin’s tokenomics—specifically its uncapped supply and the constant minting of 10,000 new coins per minute—arguing these features make it a better currency than Bitcoin.
Interestingly, JSBIT’s Martinez noted that the primary customers for Dogecoin mining machines aren’t crypto giants, but rather smaller businesses. He cited a coffee shop chain mining Dogecoin across six locations as a “side hustle,” capitalizing on the added benefit of heat recapture from the mining equipment. “Don’t turn on your heater—turn on your miner,” Martinez quipped, pointing out an advantage few heating systems can boast: they don’t pay you.