Kaspaverse Moves In With Marathon
Marathon Digital, the world’s largest Bitcoin miner, shocked crypto-markets on Wednesday 26th June by revealing that they have begun mining Kaspa. This move is meant to be a diversification in their revenue, moving beyond Bitcoin.
Kaspa, a fellow proof-of-work cryptocurrency, boasts a unique advantage: speed. Marathon, with a value currently just over $15 million has so far mined approximately 94,000,000 KAS.
#Kaspa The 18-cent barrier has been broken and the price is now heading towards 19-cents!
We can then expect another all-time record for $KAS!#crypto #pow $BTC pic.twitter.com/ruNt9kfeoL
— KASPA Enthusiast 𐤊 (@KASPAEnthusiast) June 27, 2024
Kaspa, unlike Bitcoin, which processes blocks in 10 minutes, uses a BlockDAG architecture (Directed Graph), allowing it to process multiple blocks at once. It means faster transactions, which could be a game changer in the rapidly evolving world of digital payment.
The Allure of Kaspa: Alignment with Profitability
Marathon Digital didn’t just choose Kaspa Mining because of technological innovations. It is clear that the company sees a potential for greater profitability. Kaspa is currently offering miners a higher potential block reward than Bitcoin.
Marathon also secured significant amounts of Kaspa ASICs (specialized mining hardware) in the past year. These ASICs are estimated to have profit margins up to 90% when operating under ideal conditions.
Adam Swick – Chief Growth Officer at Marathon – stressed the importance of this strategic move.
“By mining Kaspa, we’re establishing a revenue stream separate from Bitcoin, one that directly aligns with our expertise in digital asset computing.”
Swick said that the existing infrastructure of the organization, its strong relationships with manufacturers and hardware, as well as a robust financial They reserve the right to do so. “perfectly to mine Kaspa and capitalize on the high margins it offers.”
What Is the Dawn of a New Era? New Era For Kaspa?
Investor confidence has been boosted by the news that a Bitcoin titan is entering the Kaspa market. Kaspa’s price has risen as a result of this optimism. It is now getting closer to its record high.
But the crypto market continues to be notoriously volatile. Kaspa is a technologically advanced product with a high potential for profit. However, the future of Kaspa depends on varying factors such as market conditions, adoption and developer activity.
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KAS Price Action
The price of Kaspa, at the time this article was published, amounted to $4.3 billion. trading at $0.1799, It was ranked in the Top 25 Cryptocurrencies. Kaspa’s trade volume per day has also increased to $140m, a 130% increase. Altcoins are currently nearing their all-time highest prices and could be on the verge of a new price.
Charts from TradingView and LiveAbout.
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Source: www.newsbtc.com