Marathon Digital (MARA) Reveals It\'s Mining Kaspa (KAS): KAS Price Surges

Marathon Digital Holdings has announced its mining Kaspa (KAS). Following this, the KAS Price pumped 12% in the last 24 hours and hit $0.1794.

Bitcoin mining company Marathon Digital Holdings (NASDAQ:MARA) has announced its venture into mining Kaspa (KAS), a proof-of-work cryptocurrency. This development has led to a 12% surge in KAS price within the past 24 hours, bringing it closer to its all-time high.

As reported by a video analysis from Tactical Investing, this move by Marathon could serve to attract major financial institutions to Kaspa. Companies like BlackRock and Vanguard are among the top shareholders of Marathon Digital. Could this now indirectly indicate their holdings in Kaspa through their investments in the mining company?

This institutional involvement might lead to increased legitimacy and attention for Kaspa from the broader financial industry. The news of Marathon's involvement has positively impacted Kaspa, with KAS price showing a nearly 12% increase in the past 24 hours, approaching its all-time high of $0.1919. KAS price prediction for 2025 also seems promising; you can read more about it here.

Meanwhile, a new meme coin has hit the market, inspired by the political and economic views of Javier Milei, an Argentine presidential candidate known for his libertarian and pro-Bitcoin stance. This Milei Moneda is designed to embody Milei's ideals.

With the ongoing low presale price, there's an opportunity to get in early on this meme coin. But what exactly is Milei Moneda?

Marathon's Mining Operations and Strategy

According to Marathon Digital's recent announcement, they have already mined approximately 93 million Kaspa, valued at around $15 million. The company has acquired around 60 petahash of KS3, KS5, and KS5 Pro ASIC miners, with 30 petahash currently operating in their Texas facilities. The remaining capacity is set to be fully energized by Q3 2024.

Marathon’s Chief Growth Officer highlighted that mining Kaspa enables the company to create a revenue stream diversified from Bitcoin, all the while leveraging their core competencies in digital asset computation. Under current network conditions, Marathon estimates that their Kaspa mining operations can generate profits with margins of up to 95%.

This move by Marathon could encourage other publicly traded mining companies to consider similar diversification strategies, potentially leading to increased adoption and development of emerging cryptocurrencies.

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