Dogecoin meme-token mining turned out to be 261% more profitable than bitcoin

There is a lot of talk about how much electricity the devices that mine the flagship cryptocurrency consume, but in reality it may not be as scary as many assume.

Due to the fact that BTC is listed as the main digital asset and recently even entered the top 20 in global capitalization, surpassing the automaker Tesla, it attracts a lot of attention from miners. In fact, the profitability of such an activity is not as effective as, for example, in the case of Dogecoin. This will continue until BTC rises to high values.

However, miners seem to be mining bitcoin in order to hold it in the long run until the main cryptocurrency makes a move and sells it at a higher price.

Research conducted by the CoinWarz portal showed that at the moment the cost of electricity for mining DOGE is about $8.22 per day. This figure in the case of BTC mining is equal to $7.22.

However, Dogecoin miners can earn $12.94 per day while Bitcoin miners can earn $3.58. Considering the cost of electricity and the profit generated from mining cryptocurrencies, in total, Dogecoin has a profitability of 261% better than in the case of BTC.

However, DOGE is not the best option for mining in terms of daily profit today. Analysts came to the conclusion that Verge (XVG) looks much more attractive than its competitors in this regard. Its extraction can bring up to $33.38 profit per day, and about $8.22 is spent on electricity.

The top 5 most profitable cryptocurrencies in terms of mining are closed by Bitcoin Cash (BCH) with a figure of $3.36.