Marathon Digital’s move into Kaspa mining represents a strategic shift toward harnessing additional digital assets beyond bitcoin (BTC). Kaspa, is noted for its rapid processing capabilities through a Blockdag system that processes one block per second, which contrasts with Bitcoin’s slower, linear blockchain.

Marathon’s entry into Kaspa mining started in May 2023, utilizing its existing infrastructure and digital asset computing expertise, reflecting a broader trend in the crypto industry toward diversifying asset allocations. In addition to alternative digital assets, bitcoin miners like Marathon and many others have gravitated toward artificial intelligence (AI) compute processing.

“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,” Adam Swick, Marathon’s chief growth officer explained.

Swick added:

Because of our existing infrastructure, our unique relationships with hardware manufacturers, our strong balance sheet, and the expertise of our team, Marathon was uniquely positioned to mine kaspa.

In its latest announcement, in September 2023, Marathon disclosed that it had deployed its first Kaspa application-specific integrated circuits (ASICs) and began scaling its operations. With investments in around 60 petahash of KS3, KS5, and KS5 Pro ASICs, the company stated that it benefits from high margins, given the current network difficulty and kaspa’s (KAS) price. Currently, 30 petahash of Marathon’s Kaspa ASICs are operational in Texas, with plans to fully activate the remainder by Q3 2024.

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