Kaspa uses a proof-of-work consensus mechanism known as GHOSTDAG protocol, and unlike bitcoin, it allows multiple blocks to be produced simultaneously
Bitcoin miner Marathon Digital (MARA) is now a multi-coin crypto miner, after it started mining layer 1 protocol Kaspa KAS to diversify its mining revenue.
Kaspa uses a proof-of-work (PoW) consensus mechanism known as GHOSTDAG protocol, and unlike bitcoin, it allows multiple blocks to be produced simultaneously. This process helps make transactions faster and provides more block rewards for miners, as per a statement from Marathon.
By mining Kaspa, we are able to create a stream of revenue that is diversified from Bitcoin, and that is directly tied to our core competencies in digital asset compute, stated Adam Swick, Marathon’s chief growth officer in the statement.
The Kaspa token’s price has increased almost 50 per cent this year, while bitcoin jumped 44 per cent.
Marathon started mining Kaspa in September of last year after bringing the first mining computer online. The miner has bought 60 petahash worth of mining machines that can generate profit margins of up to 95 per cent, as per the statement. Marathon has 30 petahash worth of mining rigs operational in its Texas sites; the rest will be online by the third quarter. The firm has mined 93 million KAS, which is valued at almost $15 million.
Bitcoin miners have been looking to diversify their revenue after crypto winter, and recent halving has made the industry more competitive. Many miners have pivoted to using their current infrastructure to allow for artificial intelligence (AI) and other computing requirements. Meanwhile, some miners, including Marathon, have opted to monetise other layers of bitcoin to earn extra revenue.
