Dogecoin’s official X account posted on Aug.28 about a “possible threat” behind its record hashrate. The warning comes just days after the Qubic community, which recently took majority control of Monero, voted to target Dogecoin as its next mining candidate.
Hashrate is the total computing power that secures a blockchain. A higher hashrate usually means a stronger network, but if one group controls more than 50% of it, they can carry out a 51% attack. This allows them to reorganize blocks, stop transactions, and undermine the blockchain’s integrity.
Dogecoin did not name Qubic directly in its warning, but community members noted the timing was unlikely to be a coincidence. Analysts suggested the project avoided naming Qubic to prevent giving the group more publicity.
Qubic Gains Majority Control of Monero
Qubic, led by founder Sergey Ivancheglo, gained majority control of Monero’s hashrate a few weeks ago. Its mining pool reorganized six blocks after a month-long battle with other miners, showing the risks of concentrated power.
Following that attack, crypto exchange Kraken suspended Monero deposits, citing network integrity concerns.
Supporters of Qubic described Monero as only a “warm-up,” with Dogecoin as the “real test.” By targeting DOGE, Qubic aims to show its model can dominate larger proof-of-work blockchains.
Mining Rewards Make Dogecoin a Far Bigger Target Than Monero
Targeting Dogecoin offers much larger rewards than Monero. At current prices, DOGE mining produces around $22.8 million worth of new coins per week — nearly $1 billion annually. By comparison, Monero mining generates about $1 million per week. That means the economic incentive to capture Dogecoin is over 20 times higher.
But the challenge is also far greater. Dogecoin’s hashrate is roughly 2.38 petahashes per second, compared to Monero’s 4.21 gigahashes per second. That makes Dogecoin about 565,000 times more difficult to control.
Unlike Monero, which can still be mined with CPUs and GPUs, Dogecoin uses the Scrypt algorithm and is merged-mined with Litecoin. This system relies heavily on ASIC machines — specialized hardware designed for maximum efficiency. That makes it harder for new players like Qubic to dominate without enormous investment and protocol changes.
While many in the Dogecoin community see Qubic as a direct threat, Qubic supporters describe their activity differently. They argue that their system redirects hashrate from other proof-of-work chains into Qubic’s own ecosystem, fueling growth and computation while burning tokens to create deflationary pressure.
Still, critics argue that the Monero takeover demonstrated real risks. Dogecoin’s decision to publicly mention a “possible threat” shows the project is aware of the potential consequences if a single mining group accumulates too much power.
