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Beyond Bitcoin 💰

The bitcoin mining firm Marathon Digital is now expanding its mining efforts to the Layer-1 blockchain Kaspa to diversify its mining revenue.

The firm announced its involvement in mining Kaspa earlier today, stating that it first started mining the cryptocurrency in September 2023.

According to the announcement, Marathon has purchased 60 petahashes worth of hardware, capable of generating profit margins of up to 95%, where half of the machines are currently operational.

Once all of their machines are up and running, the firm predicts that their mining operations will represent 16% of Kaspa’s overall hash rate.

Over the past 10 months, Marathon has mined approximately 93M KAS, which is valued at around $15M.

Since the announcement, the price of KAS has risen by 4.6% from $0.168 to $0.176 today.

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