Why Tier-1 Altcoin Soared: The Giant Company Engaged in This Business While Selling Bitcoin!

Kaspa, one of the altcoin projects that rivals Bitcoin (BTC), gained value after Marathon Digital's huge investment.

Marathon Digital, one of the world's largest Bitcoin mining companies, started mining on the Kaspa network last September.

produced 15 million dollars

Marathon Digital started Kaspa mining to create different income sources in addition to Bitcoin mining. For this purpose, the company purchased ASIC devices with a total capacity of 60 petahashes.

Today, Marathon operates 30 petahashes of these at its facility in Texas. The remaining part is expected to be operational in the third quarter of this year.

The company announced that it had produced a total of 93 million KAS as of June 25, valued at approximately $15 million.

Kaspa (KAS) price increased

Kaspa is among the biggest names in the cryptocurrency market using the proof-of-work (PoW) mechanism.

Even though they use the same mechanism, there are some differences between Bitcoin and Kaspa. While Bitcoin progresses linearly and produces 1 block every 10 minutes, Kaspa can produce multiple blocks at the same time thanks to BlockDAG.

Kaspa, which produces one block per second today, enables miners to earn more block rewards.

According to CoinGecko data, Kaspa (KAS) price started to rise after Marathon's investment announcement. KAS gained more than 10% in value on a daily basis.