Dogecoin (DOGE) mining is heating up as small businesses are beginning to cash in from mining the digital asset.

According to vendors at this year’s Mining Disrupt conference in Fort Lauderdale, Florida, people are now actively purchasing machines to mine the digital asset.

Small businesses are beginning to cash in from mining cryptocurrency, especially Dogecoin, the token preferred by Tesla billionaire Elon Musk.

According to vendors at this year’s Mining Disrupt conference in Fort Lauderdale, Florida, people are now actively purchasing machines to mine the digital asset.

While the conference is heavily focused on the Bitcoin mining business, because it is headlined by major publicly traded firms and backed by President Trump, coins like DOGE and Litecoin were also central to discussions because of their proof-of-work nature, which allows miners to actively earn mining rewards for supporting the chains.

Dubbed as Tesla billionaire Elon Musk’s favorite digital asset, Dogecoin was launched as a joke in 2013, and now, well over 10 years, the asset continues to go strong, remaining prominent in the market. However, there is now a serious business of mining the asset presently ongoing among small business and even some investors.

Dogecoin mining is on the rise as businesses get involved

Sometimes, the machines used to mine some PoW digital assets often mine them at the same time, which is called “merged mining,” a move that allows them to boost their earnings. Vendors mentioned that miners from all places, from solo miners to public companies are actively interested in mining to earn a little bit of extra cash.

The head of business development at ElphaPex, Payne Cong, mentioned that mining these assets helps miners maximize their revenue.

According to Alan Martinez from hardware maker JSBIT, miners could potentially earn about $750 per month mining DOGE using the silent machines. Big companies are also interested in the machines, reflecting the growing interest in generating revenue through the token. “We’re talking with large firms—listed on the Nasdaq—who are interested,” he added.

According to data from CoinWarz, miners are currently merging the chains and can make profits of up to $5.83 per day on the digital asset with one machine. Meanwhile, mining Bitcoin on one machine will see the operator earn rewards of about $9.41 per day.

According to public American miner BIT Mining in December, DOGE was a bigger cash cow for the company than the leading digital asset. Mining Bitcoin is getting increasingly hard for smaller miners as its difficulty increases and its price continues to drop.

Musk’s influence on DOGE and the path to the future

Dogecoin gained a big following after Tesla boss Elon Musk started to talk about the coin on X. The EV maker CEO, who now advises the United States president under, coincidentally DOGE (Department of Government Efficiency), praised the token and its team, helping it gain value at different times. Before then, the token had started as a joke between two engineers in 2013 before it started to gain substantial value.

In a recent post, Musk praised the coin’s tokenomics, noting that its uncapped supply with 10,000 new coins minted every minute makes it good as a currency ahead of Bitcoin. While Bitcoin is regarded as digital gold, its limited supply has made many see it as an asset that can be used for everyday purchases like cash.

However, the coin’s price has dropped by over 40% since the beginning of 2024, going down to $56 at the time of writing.

Meanwhile, Martinez mentioned that Dogecoin mining is currently being carried out by small businesses, with major big-time miners still not serious about going all-in on mining digital assets. He mentioned a coffee shop chain which he said was mining the asset at six of its sites, noting that they treat it like a side hustle, taking advantage of the heat recapture. “Don’t turn on your heater—turn on your miner,” he said of DOGE mining’s additional benefits.