News - Marathon Digital announces Kaspa Mining

By Luc Vesters

Marathon Digital announces Kaspa Mining

Last Wednesday, Marathon Digital, the largest publicly traded BTC mining company, announced their plans to spread their operations. With Kaspa mining, they can achieve up to 95 percent higher profit margins. Since last September, Marathon has mined Kaspa (KAS) worth $16 million. The token aims to address Bitcoin's scalability problem.

Kaspa is among the top 25 in the crypto market with a market capitalization of four billion dollars. Following Marathon's press release, the price of KAS rose sharply and now stands at $0.17, up 16 percent from last week. "Mining Kaspa allows us to create a revenue source independent of Bitcoin," said Adam Swick, Chief Growth Officer of Marathon.

At BTC, there are between 700,000 and a million daily active addresses, while Kaspa currently has about 20,000 active addresses. So there is potential for growth. Since the first Kaspa miners started, Marathon has mined 93 million KAS tokens. KAS tokens have since experienced a price appreciation of about 420 percent. Like Bitcoin, Kaspa is an open, decentralized Layer-1 protocol that uses Proof-of-Work as a consensus mechanism.

But: Kaspa uses a BlockDAG (Directed Acyclic Graph), which allows multiple blocks to be created simultaneously. Marathon has purchased about 60 Petahashes of KS3, KS5 and KS5 Pro ASICs to mine Kaspa tokens. Of these, half are currently in use, while the rest of the devices will be installed during the third quarter. Robert Samuels, Marathon's vice president for Investor Relations, stressed, "Kaspa will only take up one percent of our energy capacity once it is fully operational." Thus, the company's focus remains on Bitcoin mining.

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