Key Takeaways:
- Marathon Digital mined $16 million worth of Kaspa (KAS) since September, representing 1% of its energy capacity.
- The company aims to diversify revenue streams with Kaspa, offering higher mining margins while maintaining Bitcoin as the primary focus.
- Kaspa’s value surged 420% since Marathon’s deployment, with the firm mining 93 million KAS tokens.
Marathon Digital, a prominent Bitcoin mining company, announced that it has mined $16 million worth of Kaspa (KAS) since September.
This move is part of Marathon’s strategy to diversify its revenue streams beyond Bitcoin. Kaspa, a token designed to address Bitcoin’s scalability issues, offers higher mining margins, which Marathon aims to capitalize on.
Today we're announcing that we have been actively mining Kaspa.
— MARA (@MarathonDH) June 26, 2024
Diversification has been key to our investments in energy solutions and tech innovations, and it remains crucial in our digital asset compute operations. Read the full press release: https://t.co/rwiXIJCx7q
Despite this diversification, the company emphasized that Bitcoin remains its primary focus, with Kaspa mining representing only 1% of its energy capacity.
Marathon has mined 93 million KAS tokens and has seen a 420% surge in their value since deployment.
The firm continues to mine Bitcoin extensively, with Kaspa contributing only a small fraction of its total revenue.
#Bitcoin miner Marathon Digital Holdings has diversified its revenue by mining $15 million worth of Kaspa $KAS tokens.
— Satoshi Talks (@Satoshi_Talks) June 26, 2024
This move reflects Marathon’s efforts to explore opportunities beyond Bitcoin mining and enhance its revenue streams.
Kaspa, a layer-1 protocol with a unique “BlockDAG” architecture, facilitates faster transactions compared to Bitcoin but remains far from being a direct competitor.
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