Marathon Digital, the largest public Bitcoin miner by market cap, announced late Wednesday it had expanded into altcoin mining to diversify its revenue streams following Bitcoin's latest halving event.
In contrast, Marathon mined $176 million of Bitcoin in Q1 this year. It holds 17,857 BTC as of May 31, according to the firm. “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,” Marathon Chief Growth Officer Adam Swick said in a statement.
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Marathon Digital mines $16M in Kaspa to diversify from BitcoinBitcoin miner Marathon Digital said it has mined 93 million Kaspa tokens since September as part of a strategy to diversify from Bitcoin.
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