The trader has other options if bitcoin or ether do not suit him. In discussions about which cryptocurrencies are profitable to mine, traders often mention Dogecoin. Despite its creation as a joke, the coin showed quite a significant growth in 2021 (thanks in part to Elon Musk). Even though DOGE's price has plummeted, it is still 1,000% higher than it was in 2020.
Cryptocurrencies are easier to mine, which is one of the advantages of Dogecoin mining. A reward of 10,000 coins is paid after adding a block. Unlike bitcoin, the block appears every 60 seconds, not every 10 minutes. The number of coins that enter circulation every day is 14 million. When Dogecoin hit an all-time high of $0.7376 in early May 2021, the block reward (10,000 coins) in dollar terms reached $7,376.

The profitability of cryptocurrency mining depends on several factors, including the coin mined, hardware efficiency, electricity costs, and market value. Bitcoin is currently the most popular mining choice due to its high market value and liquidity, though it requires substantial computational power and energy. This can make Bitcoin mining less profitable for small-scale miners, especially where electricity is expensive.

Ethereum, though no longer mineable after transitioning to Proof of Stake, was previously another profitable option. Alternatives like Litecoin, Monero, and Ravencoin can offer better profitability for smaller miners due to their lower energy requirements or different mining algorithms, such as CryptoNight for Monero. Overall, profitability is highest for those with efficient equipment and access to affordable electricity in regions favorable for mining.