“`html
Analyst βππ«π²π©ππ¨ ππ«π¨π¬ππ₯π²ππβ recently shared on Twitter that Kaspaβs hashrate has reached a new high of 645 PH/s. The hashrate has consistently been a significant value proposition for Kaspa.
The KAS price has experienced a modest 3% increase this week, currently trading around $0.18.
Marathonβs Influence on Kaspa Mining
Itβs been about a month since Marathon Digital Holdings (Mara) announced they had begun mining KAS to diversify their portfolio. Since then, Kaspaβs hashrate has increased by approximately 100 PH/s.
We know that Mara had purchased 60 PH of mining machines, but the additional increase suggests that other major Bitcoin mining companies have joined Mara in mining KAS, likely due to its higher profitability compared to Bitcoin.
#Kaspa‘s hashrate peaking at 645 PH/s !@KaspaCurrency
Itβs been around 1 month since Mara announced they had started mining $KAS to diversify. Since then Kaspaβs hashrate has increased by roughly 100 PH/s to date , in addition we know that Mara had purchased 60 PH of miningβ¦ pic.twitter.com/1SKhxKQsag
β ππ«π²π©ππ¨ ππ«π¨π¬ππ₯π²ππ (@Crypt0Proselyte) July 28, 2024
Some have speculated that Mara might sell their mining profits to purchase more Bitcoin. However, this seems unlikely for several reasons:
- Increased Hashrate: By dedicating a significant portion of their computational power to mining Kaspa, Marathon is contributing to the overall hashrate of the Kaspa network. A higher hashrate enhances the networkβs security and stability, making it more resilient.
- Network Growth: The involvement of a major player like Marathon brings more attention and credibility to Kaspa. This can attract more miners and investors, stimulating further growth and development within the Kaspa community.
- Strategic Diversification: Marathonβs strategy to diversify its mining operations by including Kaspa demonstrates confidence in the potential of the project. This diversification may also encourage other mining companies”
Source: captainaltcoin.com