3 months ago
Bitcoin miner Marathon Digital is diversifying its gross by mining Kaspa, a proof-of-work (PoW) furniture 1 blockchain network.
The miner said it became funny successful Kaspa successful May 2023 erstwhile its interior investigation revealed diversifying opportunities beyond Bitcoin mining. The institution deployed its archetypal Kaspa mining instrumentality successful September 2023.
Since then, Marathon Digital has mined 93 cardinal KAS tokens, worthy astir $15 cardinal arsenic of June 25.
Following this announcement, KAS, the autochthonal plus of the Kaspa network, surged by 9% to a multi-week precocious of $0.18.
Why Kaspa?
Marathon Digital said it selected Kaspa owed to its just launch, precocious technology, increasing ecosystem, and precocious profitability (enhanced $/kWh). Additionally, it noted that Kaspa integrates good with its existing information halfway sites, requiring minimal reconfiguration.
The institution further highlighted that the Kaspa web processes 1 artifact per second. This accelerated transaction velocity perchance allows miners to gain much artifact rewards wrong a fixed timeframe.
This accrued profitability accidental enhances its operational flexibility and allows it to found integer plus information centers successful locations wherever Bitcoin mining whitethorn not beryllium viable.
Adam Swick, Marathon’s main maturation officer, added:
“By mining Kaspa, we are capable to make a watercourse of gross that is diversified from Bitcoin, and that is straight tied to our halfway competencies successful integer plus compute.”
Marathon eyes 16% of Kaspa’s planetary hash rate
Marathon Digital aims to predominate Kaspa’s mining industry. The miner revealed the acquisition of 60 petahashes of KS3, KS5, and KS5 Pro ASICs from Bitmain, which volition boost its Kaspa generation.
The institution highlighted that Kaspa ASICs are among the astir profitable connected the market. A KS5 Pro tin make astir $79 regular profit, compared to $11 from a BTC-mining S21.
These Kaspa ASICs volition beryllium deployed successful Marathon’s Texas facilities. While the task is not yet afloat operational, it is expected to beryllium afloat energized by Q3 2024.
Once deployed, the machines volition relationship for astir 16% of Kaspa’s planetary hash rate. Although this is important wrong Kaspa’s ecosystem, it represents lone 1% of Marathon’s 1,100 MW information halfway portfolio.
The station Marathon Digital diversifies gross by mining Kaspa, aims for 16% planetary hash rate appeared archetypal connected CryptoSlate.
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