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Home»TRADING NEWS»Marathon Digital Expands to Kaspa Mining to Diversify Revenue Streams
TRADING NEWS

Marathon Digital Expands to Kaspa Mining to Diversify Revenue Streams

By Crypto FlexsAugust 4, 20242 Mins Read
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Marathon Digital Expands to Kaspa Mining to Diversify Revenue Streams
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Marathon Digital Enters Kaspa Mining

According to Marathon Digital’s X post, the Bitcoin mining company has jumped into mining Kaspa (KAS) tokens, securing around $16 million worth since September.

Source: Marathon Digital X Post

These measures are aimed at diversifying revenue sources and taking advantage of the higher margins achievable with Kaspa mining rigs, which in some cases offer profitability of up to 95%.

Diversification Strategy and Revenue Impact

According to Adam Swick, Marathon’s chief growth officer, Caspar mining allows the company to generate revenue separately from Bitcoin.

Marathon is primarily focused on Bitcoin, but it has been profitable in the wake of the recent 420% price surge of Kaspa, mining 93 million KAS tokens using Kaspa ASICs, while Bitcoin’s price has surged 135% over the same period.

Maintaining Focus on Bitcoin

While Marathon expands its business with Kaspa mining, Robert Samuels, vice president of investor relations, emphasized that Bitcoin remains the company’s main focus.

Samuels highlighted Marathon’s ongoing Bitcoin mining efforts, which have seen the company mine 9,761 Bitcoins worth $594.9 million since September, explaining that Caspar mining accounts for just 1% of Marathon’s total energy capacity.

Understanding Kaspa’s Technology and Market Positioning

Kaspa, which ranks as the fifth largest proof-of-work cryptocurrency with a market cap of $4.1 billion, operates on a layer 1 protocol similar to Bitcoin, but uses the BlockDAG architecture for faster block processing. This design allows Kaspa to achieve a block rate of around 1 block per second, which is significantly faster than Bitcoin’s 10-minute block time.

Despite its technological advancements, Kaspa currently maintains a smaller network size than Bitcoin, with significantly fewer daily active addresses. Marathon’s strategic expansion into Kaspa mining reflects a broader trend among mining companies looking to diversify their revenues and capitalize on new cryptocurrency opportunities.

As the digital asset landscape changes, Marathon Digital continues to struggle to strike a balance between traditional Bitcoin mining and exploring new revenue streams from alternative cryptocurrencies such as Kaspa.

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