DOGE Annual Mining Revenue Down By 76%

Dogecoin miners suffer major losses

DOGE mining revenue has decreased dramatically over the last year, according to freshly revealed CryptoRank statistics.

Statistics reveal a 76 percent reduction in Dogecoin mining profitability year over year, while the memecoin's price fell by the same 77 percent.

This performance puts DOGE into first place among the top five most unprofitable mining options.The other participants in declining order are: Grin (GRIN), Digibyte (DGB), Vertcoin (VTC) and Verge (XVG).

Even though DOGE is the best among the worst in mining profitability, it still hits the top three in recent daily mining revenue with $1.07 million, giving in only to such crypto giants as Bitcoin (BTC), $33.9 million, and Ethereum (ETH), $23.2 million.

In this case, DOGE declared itself as the worst among the best.

It is unusual for such terrible material to be given to the crypto community.

Of the 15 coins listed at the top, only Bitcoin (BTC) shows a positive yield, but even that looks ridiculous compared to the opportunities offered by the crypto market—only 5.1% per annum.

Things are so awful for miners that Zcash (ZEC) has the second highest yield behind Bitcoin (BTC), at -18.7 percent p.a. The disparity grows wider as one moves down the leaderboard, with Ethereum (ETH) rounding out the top three with a -43.6 percent yearly profit margin.