Marathon is looking to “capitalize on higher margins” possible with Kaspa mining — but one executive stressed the firm is in no way “pivoting” from its main focus, Bitcoin.
Bitcoin (BTC) mining heavyweight Marathon Digital revealed it has mined $16 million worth of Kaspa (KAS) — a token designed to address Bitcoin’s scalability problem — since September to diversify from Bitcoin.
In a June 26 announcement, Marathon Digital said the move allowed the firm to “capitalize on the higher margins” possible with Kaspa mining machines, which are up to 95% in some cases.
“By mining Kaspa, we are able to create a stream of revenue that is diversified from Bitcoin,” explained Marathon’s chief growth officer, Adam Swick.
