05:42 PM EDT, 06/26/2024 (MT Newswires) -- Marathon Digital Holdings ( MARA ) said late Wednesday it has started mining Kaspa (KAS-USD), a proof-of-work digital asset, in a move to diversify its portfolio.

Kaspa's blockchain network is capable of processing one block every second, compared with only once every 10 minutes with bitcoin, allowing for faster transactions and more opportunities for miners to earn rewards, Marathon said.

Kaspa is the fifth largest proof-of-work digital asset with a market capitalization around $3.9 billion, according to Marathon.

As of June 25, Marathon has mined roughly 93 million Kaspa tokens with an overall value of about $15 million.

Kaspa was up 8% to $0.1726 in recent crypto trading.