Bitcoin Mining Giant Marathon Digital Adds Kaspa to Its Portfolio

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Bitcoin Miner Marathon Mints Millions in Kaspa, Diversifying Revenue Stream

Bitcoin mining giant Marathon Digital is making a strategic move to diversify its revenue stream. The company recently announced that it has mined $16 million worth of Kaspa (KAS) tokens since September 2023. Kaspa, a cryptocurrency designed to address Bitcoin’s scalability issues, offers Marathon an opportunity to capitalize on higher profit margins.

“By mining Kaspa, we are able to create a stream of revenue that is diversified from Bitcoin,” explained Adam Swick, Marathon’s chief growth officer. The company highlights the “higher margins” achievable with Kaspa mining machines, reaching up to 95% in some cases.

This diversification strategy comes at a time when Bitcoin mining is becoming increasingly competitive. Recent halving events have reduced miner rewards, while energy costs remain a significant factor. Kaspa mining offers a potential solution, allowing Marathon to leverage its existing infrastructure for additional profits.

Marathon has strategically deployed its Kaspa mining operations. So far, the company has mined 93 million KAS tokens, representing only a small portion of its overall mining revenue. Since September 2023, Marathon has mined 9,761 Bitcoin, translating to a value of $594.9 million.

Robert Samuels, Marathon’s Vice President of Investor Relations, emphasizes that Kaspa mining is not a shift in focus. “Kaspa will represent just 1% of our energy capacity once fully deployed,” he clarifies. This measured approach ensures Bitcoin remains Marathon’s core business.

Kspa: A Faster Blockchain with Potential

Kspa stands out for its unique architecture. Unlike Bitcoin’s linear blockchain, Kaspa utilizes a BlockDAG (Directed Acyclic Graph) structure. This allows for significantly faster block processing, with Kaspa generating new blocks roughly every second, compared to Bitcoin’s 10-minute block creation time.

However, Kaspa is still a young project with a smaller user base. While Bitcoin boasts daily interactions from 700,000 to 1 million unique addresses, Kaspa currently sees around 20,000 daily active addresses.

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Author: Sb

This post was originally published on cryptonewsfarm.com

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