The mining company Marathon Digital Holdings has started mining Kaspa (KAS) in order to diversify income.
Today we're announcing that we have been actively mining Kaspa.
Diversification has been key to our investments in energy solutions and tech innovations, and it remains crucial in our digital asset compute operations. Read the full press release: https://t.co/rwiXIJCx7q
Its representatives stressed that this is not a signal of a "departure" from the mainstream — bitcoin.
"After full deployment, Kaspa will account for only 1% of our capacity," assured Marathon Vice President of Investor Relations Robert Samuels.
Marathon Digital stated that the initiative allowed them to "benefit from the higher margins" possible when using Kaspa mining machines. In some cases, the figure reaches 95%, the report says.
"Marathon has taken a unique position for KAS mining [...] among those who can implement Kaspa ASIC today," the company noted.
For these purposes, Marathon has purchased about 60 petahashes of ASIC KS3, KS5 and KS5 Pro. Half of them are already in operation, and the rest will be installed in the third quarter.
Since the launch of the first batch of Kaspa devices in September 2023, Marathon has accumulated 93 million KAS ($16 million). Since then, tokens have grown by 420%, while bitcoin has grown by 135%.
Kaspa is the fifth largest asset on the Proof-of-Work algorithm, which can be mined using special equipment.
Data: CoinGecko.The market capitalization of the asset exceeded $4.2 billion. Against the background of the announcement, the daily growth rate of the KAS exchange rate increased to 11%, and the trading volume increased by 155%.
In April 2024, Forbes included Kaspa in the list of 20 "zombie blockchains".
Recall that in May 2023, Bitmain began accepting orders for the KS3 device for KAS mining.
Previously, the company released specialized miners for Handshake (HNS) and Filecoin (FIL).