Marathon Digital, a major Bitcoin mining company, has been mining Kaspa (KAS), a cryptocurrency designed to address Bitcoin's scalability issues, since September 2023. The move aims to diversify revenue streams by capitalizing on higher profit margins offered by Kaspa mining. While Marathon has already mined $16 million worth of Kaspa, they emphasize this is not a shift away from Bitcoin, stating Kaspa will only constitute 1% of their energy capacity. Marathon's focus remains on Bitcoin mining, evident in the $594.9 million generated from Bitcoin mining since September. Kaspa, despite its scalability advantages, still lags behind Bitcoin in terms of network activity, but the 420% surge in KAS price since September highlights its potential. Kaspa's BlockDAG architecture allows for faster block production than Bitcoin, potentially attracting users seeking quicker transactions. While Marathon's diversification strategy is being lauded for its potential, the company maintains that Bitcoin mining remains its core business.
Key Points:
Marathon Digital has been mining Kaspa (KAS) since September 2023, diversifying its revenue stream.
Kaspa mining offers higher profit margins compared to Bitcoin, allowing Marathon to capitalize on opportunities.
Despite mining $16 million worth of Kaspa, Marathon emphasizes it is not pivoting away from Bitcoin mining.
Kaspa will represent only 1% of Marathon's total energy capacity, with Bitcoin mining remaining the primary focus.
Kaspa boasts faster transaction speeds due to its BlockDAG architecture, attracting users seeking quicker transactions.
The price of KAS tokens has surged 420% since September, highlighting the potential of Kaspa.
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