Marathon Digital, a Bitcoin mining company, has ventured into mining Kaspa (KAS), a layer-1 proof-of-work coin, generating 93 million KAS by June 25. This move aims to diversify revenue streams, as stated by Adam Swick, Marathon's chief growth officer. Kaspa, ranking as the fifth-largest PoW coin globally, offers faster transactions than Bitcoin due to its BlockDAG mechanism. Marathon has acquired 60 petahash of Kaspa ASICs, with a projected 95% profit margin. Currently operating at 50% capacity in Texas, Marathon plans to have full capacity by Q3 2024. With a circulating supply of 24 billion KAS and a block reward of 103.83 KAS, Kaspa's market cap exceeds $4.1 billion. The price of KAS was up by 9% to $0.175, showcasing the potential of this new venture. Read more AI-generated news on: https://app.chaingpt.org/news
Marathon Digital Expands into Kaspa Mining to Diversify Revenue Streams
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