Kaspa, a proof-of-work cryptocurrency, has seen a surge in price following the announcement that major Bitcoin miner Marathon Digital has diversified its operations by mining over $16 million worth of KAS. Marathon Digital stated that this move allows them to capitalize on higher margins achievable with Kaspa mining machines, which can reach up to 95% in some cases. This strategic move aims to create a diversified revenue stream for Marathon Digital, particularly as Bitcoin miners face increased competition following the recent halving. Kaspa's GhostDAG protocol stands out as it allows for faster block times and higher transaction throughput than traditional blockchains. The increased mining activity and growing interest in Kaspa's technology have contributed to a 145% surge in trading volume and a 10% rise in price in the last 24 hours. Marathon's decision to diversify into Kaspa mining signifies a growing trend among Bitcoin miners to explore alternative revenue sources, particularly as the crypto market faces ongoing challenges.
Key Points:
Marathon Digital has mined over $16 million worth of Kaspa, diversifying its revenue from Bitcoin.
Kaspa's GhostDAG protocol offers faster block times and higher transaction throughput compared to traditional blockchains.
The move allows Marathon to capitalize on higher margins achievable with Kaspa mining machines, which can reach up to 95% in some cases.
Kaspa's price has surged 13% following the announcement, with trading volume increasing by 145% in the last 24 hours.
Marathon's diversification into Kaspa mining reflects a broader trend among Bitcoin miners to explore alternative revenue sources.
The company has purchased 60 petahashes of Kaspa ASICs and is actively mining the token.
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