Dogecoin is one of the high return coins to mine in 2021, having returned 59033% on investment as of the end of October 2021, beating Bitcoin and Ethereum. You get rewarded 10,000 Dogecoins from a single block mined in a minute, and each coin is worth $0.301 in October 2021 up from $0.0056 in January.
This tutorial tells how to mine Dogecoins, including how to run a node and mining software. We have listed the top mining software and methods you can use to mine the cryptocurrency.
Dogecoin Mining Equipment
Mining Dogecoin profitably requires using ASICs (Application-Specific Integrated Circuits) to run the Scrypt algorithm. Some mining pools allow you to contribute SHA 256 hash rates and get paid in Dogecoins. However, it is advisable to stick to the Scrypt mining of Doge.
We will concentrate on how you can earn crypto mining with an ASIC, but if you want to earn with a GPU, consider a few profitable and connect to a mining pool. You can try RTX 3090 Ultra Gaming, RTX 2080 Ti, RTX 2070, GeForce GTX 1080 Ti, and AMD Radeon RX 5700XT, but profitability could be very low. Any CPU Dogecoin mining is just a loss.
How To Mine Dogecoin
Step 1: Research on and buy mining rigs and miners: Also determine whether to mine solo, on a pool, or on the cloud. With a cloud mining site, you do not need to buy a rig. You rent or buy hash rates and direct it to a mining pool or the company selling the hash rates uses its machines to mine, so you buy a contract and get payouts.
Peer-to-peer marketplaces also allow you to buy hash rates from other peers and then direct the compute to a Dogecoin mining pool. Here, you do not spend money buying a rig and it’s more cost-effective. No management of rigs and not a lot of issues with downtimes.
Step 2: Research on and sign up on chosen mining pool: While some pools let you mine BTC and get paid in Dogecoin, you can mine Doge directly on Scrypt pools. Some pools let you mine multiple cryptocurrencies like merge mining of Litecoin and Doge.
Some rigs and software allow you to connect to multiple pools and even to switch to the most profitable.
Step 3: Decide on mining software: Some software will detect miners once you connect it to power and install the software. We have reviewed the best software that you can use to easily set up a pool, select the coin, clock your equipment, merge mine cryptocurrencies, automatically switch to profitable coins, and easily monitor profits.
Some allow you to mine only when a machine is idle or to reduce power consumption. Some software are best for solo mining while others let you manage rigs easily.
Step 3: Connect your rigs: The set-up depends on the machine or rig and with software, most ASICs are fast to connect to a pool. The software either lets you a GUI interface or command-line interface to set up. The easiest for newbies is the GUI interfaced tools. Some rigs do not need software. All you have to do is use the web interface to log in and connect to the mining pool.
Step 4: Start mining, optimize rigs and update software: After this, you can start mining, monitor profits, stop mining, etc. With rigs, you will need to monitor efficiency, update drivers, and change hardware when it is no longer profitable. With cloud mining, those tasks are eliminated.
Dogecoin Cloud Mining Website
1. Genesis Mining
The online cloud mining company allows you to mine Dogecoin without maintenance fees. You can also mine Bitcoin or other profitable crypto and get paid in Dogecoin. The earnings can be converted with the auto trader.
1. Daily payouts.
2. The minimal contract price is $28 for 2mh/s to $2400 for 200 mh/s and a custom plan for Litecoin mining that can be used to mine Doge.
Website: Genesis Mining
ViaBTC also allows direct mining of Dogecoin via the Litecoin pool.
1. Lifetime contracts.
2. Minimum payment of 1 Doge without commission.
3. Contracts starting from $5.90 – 1 MH/s.
NiceHash also allows you to mine other coins on the cloud and get paid in Dogecoin.
1. Allows you to rent hash rate and direct it to Dogecoin mining pools like the ones discussed below.
2. Buy Scrypt hash rate from as low as 0.2391 BTC/TH/day.
3. Allows trading of hash rates on the marketplace.
Bitdeer offers cloud hash rates for mining different coins and a hash rate marketplace where you can buy and sell hash rates.
Antminer L5 plans for Doge and LTC mining from $3996 per 1 Gh/s to $15984 per 4 GH/s per 360 days.