Bitcoin Miner Marathon Mined $15M Kaspa Tokens to Diversify Revenue
Summary
Bitcoin miner Marathon Digital has diversified its mining revenue by mining Kaspa (KAS), a layer 1 protocol that uses a proof-of-work consensus mechanism called GHOSTDAG protocol. Unlike Bitcoin, Kaspa allows multiple blocks to be produced simultaneously, making transactions faster and providing more block rewards for miners. Marathon began mining Kaspa in September last year and has mined 93 million KAS, valued at about $15 million. The company has 30 mining rigs operational in Texas, with the rest expected to be online by the third quarter. This move comes as Bitcoin miners seek to diversify their revenue following the crypto winter and increased industry competition.
