Marathon Digital Mines $16 Million in Kaspa, Diversifying from Bitcoin

Kaspa, a proof-of-work cryptocurrency, has seen a surge in price following the announcement that major Bitcoin miner Marathon Digital has diversified its operations by mining over $16 million worth of KAS. Marathon Digital stated that this move allows them to capitalize on higher margins achievable with Kaspa mining machines, which can reach up to 95% in some cases. This strategic move aims to create a diversified revenue stream for Marathon Digital, particularly as Bitcoin miners face increased competition following the recent halving. Kaspa's GhostDAG protocol stands out as it allows for faster block times and higher transaction throughput than traditional blockchains. The increased mining activity and growing interest in Kaspa's technology have contributed to a 145% surge in trading volume and a 10% rise in price in the last 24 hours. Marathon's decision to diversify into Kaspa mining signifies a growing trend among Bitcoin miners to explore alternative revenue sources, particularly as the crypto market faces ongoing challenges.