Bitcoin Miner Marathon Mined $15M Worth Kaspa Tokens to Diversify Revenue

The miner has brought 30 petahash worth of machines online to mine Kaspa, while 30 more will be starting by the third quarter.Kaspa uses a proof-of-work consensus mechanism called 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, according to 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,” said Adam Swick, Marathon’s chief growth officer in the statement.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%, according to the statement.

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 and other computing needs. Meanwhile, some miners, including Marathon, have opted to monetize other layers of bitcoin to earn extra revenue.Updates headline and sub-headline to clarify amount of tokens mined and 5th paragraph to say 30 petahash worth of machines.

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