Bitcoin mining giant Marathon Digital has started mining the altcoin Kaspa, causing its price to jump 13% within 24 hours. Kaspa (KAS), a proof-of-work cryptocurrency, now trades at $0.1792 with a market cap of $4.3 billion, placing it among the top 25 cryptocurrencies.
The daily trading volume for Kaspa surged by 132% to $141 million. Marathon Digital’s decision to mine Kaspa is driven by its unique BlockDAG architecture, enabling faster transactions and multiple block production simultaneously.
Marathon Digital has deployed 60 petahash of KS3, KS5, and KS5 Pro ASICs, with half operational in Texas. The company has mined 93 million KAS, valued at $15 million. This strategic move diversifies Marathon’s revenue stream beyond Bitcoin, leveraging its existing infrastructure and expertise.
This development highlights the growing importance of diversification in the digital asset mining industry and showcases Kaspa’s potential for high-margin operations.
