Kaspa

Bitcoin

BlockDAG

Notable

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/marathon-digital-enters-altcoin-mining" data-wpel-link="internal" rel="noopener noreferrer nofollow">Marathon Digital Enters Altcoin Mining</a><br></p>
<p style="text-align: justify">Marathon Digital, the largest publicly traded <a href="https://en.bitcoinhaber.net/bitcoin-price-soars-and-dips-in-a-turbulent-market-cycle" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> miner by <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> value, has expanded its operations into altcoin mining. Announced on June 26, the shift aims to diversify revenue streams following Bitcoin’s latest halving event. The company has chosen Kaspa for its altcoin project and initiated the process in September 2023 using application-specific integrated circuits (ASIC) miners.</p>
<h2 id="mining-company-s-notable-move">Mining Company’s Notable Move</h2>
<p style="text-align: justify">Marathon has acquired approximately 60 PH/s Antminer KS3, KS5, and KS5 Pro ASIC units from Bitmain, each capable of generating up to a 95% profit margin based on current network difficulty and KAS price. Half of the Kaspa hash rate is operational at Marathon’s Texas facilities, with the rest expected to be online by the third quarter. As of June 25, Marathon reported mining 93 million KAS tokens, valued at around $15 million.</p>
<p style="text-align: justify">For comparison, Marathon mined $176 million worth of Bitcoin in the first quarter of this year and held 17,857 Bitcoin worth $1.1 billion as of May 31. According to Bitcoin Treasury data, Marathon is the largest public miner holder and the second-largest corporate holder, trailing only MicroStrategy’s 226,331 Bitcoin, valued at $13.8 billion.</p>
<h2 id="details-about-kaspa">Details About Kaspa</h2>
<p style="text-align: justify">Kaspa, a lesser-known cryptocurrency, ranks as the fifth-largest proof-of-work supported digital currency, following Bitcoin, Dogecoin, Bitcoin Cash, and Litecoin. It has a market value of $4.2 billion and a 24-hour trading volume of $128 million. Kaspa’s circulating supply is approximately 24 billion KAS, with a current block reward of 103.83 KAS and a total supply of 28.7 billion KAS.</p>
<p style="text-align: justify">Unlike Bitcoin, Kaspa uses a proof-of-work consensus mechanism combined with BlockDAG <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">technology</a>, allowing multiple blocks to be produced simultaneously. This results in higher block rewards for miners as Kaspa processes one block per second compared to Bitcoin’s one block every 10 minutes. Adam Swick, Marathon’s Chief Growth Officer, emphasized that mining Kaspa aligns with the company’s core competencies in crypto asset computation.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<ul>
 <li>Marathon Digital has diversified into altcoin mining, specifically targeting Kaspa.</li>
 <li>The company has invested in high-efficiency ASIC miners to optimize profitability.</li>
 <li>Kaspa’s innovative BlockDAG technology offers quicker block rewards compared to Bitcoin.</li>
 <li>Marathon holds significant assets in both Bitcoin and Kaspa, enhancing its market position.</li>
</ul>
<p style="text-align: justify">In summary, Marathon Digital’s entry into altcoin mining marks a strategic move to broaden its revenue base, leveraging advanced mining technology and the unique attributes of Kaspa. This initiative underscores the company’s adaptability and forward-thinking approach in the ever-evolving cryptocurrency landscape.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/marathon-digital-enters-altcoin-mining" data-wpel-link="internal" rel="noopener noreferrer nofollow">Marathon Digital Enters Altcoin Mining</a></h5>

Marathon Digital Enters Altcoin Mining

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