Marthon Digital, one of the major Bitcoin miners, said in a statement that it was mining another altcoin besides BTC.
Accordingly, the giant company announced that it is also mining the altcoin named Kaspa (KAS) in addition to BTC in order to diversify its mining income.
The company has been mining Kaspa since September 2023 and stated that it has issued 93 million KAS tokens worth approximately $15 million.
Marathon's chief growth officer, Adam Swick, said in a statement:
“Marathon was uniquely positioned to mine Kaspa and benefit from the higher margins available to those who can deploy Kaspa ASICs today.
“By mining Kaspa, we are able to create a revenue stream that is diversified from Bitcoin and directly linked to our core capabilities in digital asset computing.”
In its announcement, Marathon purchased approximately 60 petahash KS3, KS5 and KS5 Pro ASIC mining rigs to mine Kaspa tokens. Half of it is currently operational, while the rest will come online in the third quarter.
Adam Swick also emphasized that Marathon's main mining focus has not changed and is still on Bitcoin.
KAS, which has increased by over 8% in the last 24 hours, continues to be traded at $ 0.174 at the time of writing.
*This is not investment advice.