Since the start of the bullish rally of Bitcoin (BTC) and most cryptocurrencies after Donald Trump’s victory in the US presidential elections, the increase in prices also impacted, in some cases, the profitability of their Mining. The increase in the price of Dogecoin (DOGE), inspired by a puppy, led to this Cryptocurrency currently having the five ASICs (application specific integrated circuits) most profitable on the market.
The cryptocurrency market this year was also positively affected by the Bitcoin halving in April, which historically produces the rebound of this crypto asset and, temporarily, pushes many altcoins upwards. One of the cryptocurrencies that best capitalized on this trend was Dogecoin (DOGE). At the time of writing this article, its price is around $0.40, a level it has not reached since May 2021, according to data from CoinMarketCap.
The ASIC of the moment is the Bitmain Antminer L9 17.6Gh
According to site data Whattominethe most profitable hardware equipment for DOGE mining generates 57 net dollars daily. This is the Bitmain Antminer L9 17.6Gh, launched in May 2024. Currently, it is not only the most profitable ASIC for mining DOGE, but it is the most profitable in the entire cryptocurrency market.
The Bitmain Antminer L9 17.6Gh miner generates $56 net daily. Fountain: Bitmain.
This mining equipment has a computing power of 17.60 GH/s (gigahashes per second) and an electrical consumption of 3260 watts. Users interested in purchasing this ASIC must pay $13,500.
Due to its computing and consumption characteristics, it can be determined that this mining equipment has an energy efficiency of 185.23 J/GH (joules per gigahashes). This figure is relatively high compared to more modern mining equipment, for example, the Bitmain Antminer S21E XP Hyd 3U to mine bitcoin.
The latter is more efficient in terms of energy consumption, given that it has a efficiency of 0.01 J/GH. This means that the Bitmain Antminer S21E XP Hyd 3U consumes less power per processing unit. However, despite its superior energy efficiency, the DOGE ASIC can currently generate more profits due to factors such as price fluctuations in the cryptocurrency market, mining difficulty, and the total hashrate of the networks.
Thus, it can be inferred that this ASIC today is the most profitable due to the rebound in 186% of the price that DOGE had from November 5 to the present.
In addition, this same ASIC, but in a version with a lower hashrate of 16 GH/s (gigahashes per second) and an energy consumption of 3360 watts, is the third most profitable option at the moment. Users who are mining with this hardware will earn an average income of $52 net dollars per day, according to Whattomine.
This is the second most profitable ASIC on the market today
The VolcMiner D1, like the Bitmain Antminer L9, is a mining rig specifically designed for the mining of Dogecoin and other cryptocurrencies based on the algorithm. Scrypt.
This cryptographic hashing algorithm is a Proof-of-Work based consensus method (Proof of WorkPoW) designed to secure networks and verify transactions. It is used in the mining of Dogecoin and Litecoin (LTC), among other cryptocurrencies, and is designed to be more efficient in terms of energy, although it provides a lower processing power and RAM memory compared to SHA-256the Bitcoin algorithm.
VolcMiner D1 is currently the second most profitable ASIC on the market. Fountain: WoYouminer.
Launched in November 2024, VolcMiner D1 offers a mining power of 17.00 Gh/s (gigahashes per second) and a power consumption of 3900 watts.
With a price of $13,000 In its most powerful version (17.00 Gh/s), this ASIC produces net gains of approximately 54 dollars dailypositioning itself as the second most profitable mining team on the market and on DOGE.
On the other hand, in the list of the most profitable ASICs, the fourth and fifth places are occupied by two versions of the same device: ElphaPex DG1+ and ElphaPex DG1. These generate net profits of around $43 and $32 respectively.
ElphaPex DG1+ has a hash rate of 14 GH/s and its DG1 version 11 GH/s. Fountain: Whattomine.
These equipment described here have the possibility of accessing the merged mining of Dogecoin and Litecoin (LTC). However, according to the data of Whattomine, LTC mining is currently unprofitable.
Additionally, another quality of the ASICs mentioned in this article is that they can be used in the Nicehash mining pool. According to Whattominewith Nicehash the profitability of mining equipment would improve by an average of 2 to 3 dollars a day net.
In summary, thanks to the current rebound in the market value of the DOGE token, its mining records a noticeable increase in its profits. So much so that, at the time of this writing, Dogecoin has the most profitable ASICs, earning up to $56 a day, when in September these same ASICs barely passed, at best, the 13 dollars a day net.
How is the profitability of mining equipment calculated?
While the rise or fall in the price of a cryptocurrency is a key catalyst in determining the profitability of its mining, there are other factors to consider the possible benefits of an ASIC.
For example, the processing capacity of the mining equipment (hashrate) and its energy consumption.
On the other hand, It is essential to evaluate the energy costwhich depends on the electrical consumption of the equipment, the local electricity rate and the operating time, generally 24 hours a day. This expense is calculated by multiplying daily energy consumption in kilowatt-hours (kWh) by the cost of electricity. Net profitability is obtained by subtracting energy and maintenance costs from total daily income.
Lastly, it would also be prudent evaluate the purchase price of the ASIC to clarify the size of the initial investment and the time of return on investment.
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