Marathon Digital Holdings Announces Kaspa Mining Operations
27 6월 2024 - 5:05AM
Marathon Digital Holdings, Inc.
(NASDAQ:MARA) ("Marathon"
or "Company"), a global leader in leveraging digital asset
compute to support the energy transformation, today announced that
the Company is mining Kaspa (KAS), a proof-of-work (PoW) digital
asset, to further diversify its portfolio of digital asset compute.
Kaspa is currently the fifth largest
proof-of-work digital asset by market cap. It boasts a market cap
of $3.9 billion with approximately $64.8 million in daily trading
volume as of June 25, 2024. The circulating supply is approximately
24 billion KAS with a current block reward of 103.83 KAS, and the
terminal supply is capped at 28.7 billion KAS.
Similar to Bitcoin, Kaspa is an open-source,
decentralized, and fully scalable Layer-1 protocol that uses
proof-of-work as its consensus mechanism. However, unlike Bitcoin’s
blockchain, which is linear and processes one block every ten
minutes, Kaspa utilizes a BlockDAG (Directed Acyclic Graph) that
enables multiple blocks to be produced simultaneously. The Kaspa
network currently processes one block every second, allowing for
faster transactions and providing Kaspa miners with the opportunity
to potentially earn more block rewards in a given time frame.
In May 2023, Marathon began evaluating Kaspa as
a potential way to diversify its revenue while continuing to
utilize its current infrastructure and expertise in digital asset
compute. After successfully deploying its first Kaspa ASICs in
September 2023, the Company began scaling its operations.
Marathon has purchased approximately 60 petahash
of KS3, KS5, and KS5 Pro ASICs, each of which is estimated by ASIC
Miner Value to generate profit in certain cases up to 95% margins
given the current network difficulty rate and price of KAS. 30
petahash of Marathon’s Kaspa ASICs are currently operational in the
Company’s self-owned and operated facilities in Texas, and the
remainder are currently expected to be fully energized in Q3
2024.
As of June 25, 2024, Marathon has mined 93
million KAS, which are currently valued at approximately $15
million.
“By mining Kaspa, we are able to create a stream
of revenue that is diversified from Bitcoin, and that is directly
tied to our core competencies in digital asset compute,” said Adam
Swick, Marathon’s chief growth officer. “Because of our existing
infrastructure, our unique relationships with hardware
manufacturers, our strong balance sheet, and the expertise of our
team, Marathon was uniquely positioned to mine Kaspa and to
capitalize on the higher margins that exist for those who can
deploy Kaspa ASICs today. We look forward to continuing to support
innovation in proof-of-work ecosystems, as we expand our position
as a leader in digital asset compute.”
Investor Notice
Investing in our securities involves a high
degree of risk. Before making an investment decision, you should
carefully consider the risks, uncertainties and forward-looking
statements described under "Risk Factors" in Item 1A of our most
recent Annual Report on Form 10-K for the fiscal year ended
December 31, 2023, filed with the SEC on February 28, 2024. If any
of these risks were to occur, our business, financial condition or
results of operations would likely suffer. In that event, the value
of our securities could decline, and you could lose part or all of
your investment. The risks and uncertainties we describe are not
the only ones facing us. Additional risks not presently known to us
or that we currently deem immaterial may also impair our business
operations. In addition, our past financial performance may not be
a reliable indicator of future performance, and historical trends
should not be used to anticipate results in the future. See
"Forward-Looking Statements" below.
Forward-Looking Statements
Statements made in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements can be
identified by the use of words such as “may,” “will,” “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which the Company cannot predict with accuracy and some of which
the Company might not even anticipate and involve factors that may
cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on
these forward-looking statements and are advised to consider the
factors listed above together with the additional factors under the
heading “Risk Factors” in the Company's Annual Reports on Form
10-K, as may be supplemented or amended by the Company's Quarterly
Reports on Form 10-Q. The Company assumes no obligation to update
or supplement forward-looking statements that become untrue because
of subsequent events, new information or otherwise.
About Marathon Digital
Holdings
Marathon Digital Holdings (NASDAQ:MARA) is a
global leader in digital asset compute that develops and deploys
innovative technologies to build a more sustainable and inclusive
future. Marathon secures the world’s preeminent blockchain ledger
and supports the energy transformation by converting clean,
stranded, or otherwise underutilized energy into economic
value.
For more information, visit www.mara.com, or
follow us on:
Twitter: @MarathonDHLinkedIn:
www.linkedin.com/company/marathon-digital-holdingsFacebook:
www.facebook.com/MarathonDigitalHoldings Instagram:
@marathondigitalholdings
Marathon Digital
Holdings Company Contact:
Telephone: 800-804-1690Email: ir@mara.com
Marathon Digital Holdings Media
Contact:Email: marathon@wachsman.com
Marathon Digital (NASDAQ:MARA)
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