Miners of meme cryptocurrency Dogecoin are enjoying the benefits after the price reached an all-time high, according to new figures. Although the price of Dogecoin is down on last week, data from analyst firm ByteTree shows miners took in a record $3.6 million on April 26, an increase of 4,575% since the turn of the year. While a steep rise in transaction fees factors into the equation, the spike in miner revenue can be attributed predominantly to the surge in the value of Dogecoin. Since January 1, the price of Dogecoin has risen by circa 6,500%, riding on the coattails of the Bitcoin bull run. Check out our list of the best mining rigs available We’ve built a list of the best crypto exchanges around Here’s our list of the best mining GPUs out there "Transaction fees have risen, but price overwhelms," said Charlie Morris, ByteTree CIO. "The market has been squeezed higher. I suspect many people who owned [Dogecoin] a few years ago have forgotten, leading to tighter supply than perceived." Dogecoin mining Launched in 2013 by IBM developer Billy Markus and Adobe data scientist Jackson Palmer, Dogecoin was supposed to satirize the online frenzy surrounding cryptocurrencies at the… Read full this story
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