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Coin Circle (120BTC.COM) News: Dogecoin has recently attracted people’s attention due to Musk’s acquisition of Twitter. The price of Dogecoin has surged surprisingly in a short period of time. It once broke through 0.15 US dollars at 2 o’clock in the morning on the 30th, setting a single-day surge of more than 80 %; subsequent prices have slightly converged. The current price of Dogecoin before the deadline is US$0.122, with a total market value of approximately US$16 billion. It has surpassed Cardano (ADA) to become the eighth largest cryptocurrency in terms of market value. The trend of currency price counterattack has also made miners start. Thoughts.

 Dogecoin mining difficulty hits record high

Dogecoin currently ranks second among cryptocurrencies that use PoW proof-of-work, second only to its leading brother Bitcoin (BTC). The recent surge in the price of Dogecoin has attracted the attention of miners, and a large amount of computing power has been diverted, making Dogecoin The mining difficulty of Dogecoin has also reached a record high of 8.51M. It is worth noting that the last time the mining difficulty of Dogecoin exceeded 8M was on April 13 this year, when the currency price was US$0.138.

Yellow line: mining difficulty, blue line: currency price

 ASIC mining machines plummeted, miners entered the market for the second time

Previously, Ethereum (ETH) completed its merger and upgrade on September 15. At that time, many miners gave up and sold their mining machines. Coupled with the sluggish bear market that lasted for several months, the second-hand market for graphics cards and ASIC mining machines fell sharply. .

According to the current mining difficulty of Dogecoin, miners rely on ordinary graphics cards and CPUs, and it is almost impossible to dig out the number of coins that can recover their original investment. Therefore, ASIC mining machines are currently the mainstream. Due to the mining of Dogecoin and Litecoin, Both mines belong to the Scrypt algorithm, and most miners will use Dogecoin plus Litecoin merged mining (Merged
Mining), can mine two tokens at a time.

And the unpopular Scrypt
ASIC mining machines have recently become a new favorite in the second-hand market due to the enthusiastic purchase of Dogecoin miners. Among them, the particularly popular model is not the Ant L7 with the highest computing power ratio, but the Goldshell with a more cost-effective purchase price.
LT6 and Innosilicon A6+ as a starting point.

Taking the Goldshell LT6 as an example, the current price of a new phone on the market is about NT$100,000, and the second-hand price ranges from NT$30,000 to NT$70,000; while the Ant L79500M has a new price of about NT$450,000, and second-hand prices range from NT$200,000 to NT$350,000.

Then use Goldshell
The LT6 data is input into the computing power computer. Based on the current Dogecoin currency price, assuming that the electricity cost is NT$3 per unit and the mining pool fee is 1%, approximately 0.047 LTC and 105 DOGE can be mined every day, excluding the electricity cost. The daily income is about 260-270 yuan.