MARATHON DIGITAL: DIVERSIFICATION BEYOND BITCOIN WITH KASPA
Marathon Digital Holdings, one of the leading Bitcoin miners in the world, has embarked on a diversification strategy by entering the mining of Kaspa (KAS) in 2024. This move represents a significant shift for the company, which traditionally focused exclusively on Bitcoin mining.
Launched in September 2023, the Kaspa operation has already produced impressive results. As of June 25, 2024, Marathon has mined 93 million KAS, valued at approximately 15 million dollars. The company has invested in about 60 petahash of ASIC KS3, KS5, and KS5 Pro for Kaspa mining, aiming to achieve about 16% of the global Kaspa hash rate.
This diversification is strategic: KAS tokens have increased by 420% since the launch of the operation, while Bitcoin has grown by 135%. Marathon actively manages its Kaspa reserve, strategically selling KAS to cover operating expenses, purchase Bitcoin, or maintain positions depending on market conditions.
The expansion into Kaspa demonstrates Marathon's commitment to leveraging its expertise in digital asset computing to create diversified income streams beyond traditional Bitcoin.
