Marathon Digital has entered into a renewable energy partnership with the Kenyan government
Bitcoin mining giant Marathon Digital recently announced a new partnership with Kenya's Ministry of Energy and Petroleum (MOEP) to develop the country's thriving renewable energy sector.
The collaboration will focus on sharing technical expertise and research, policy ideas, investment strategies and critical energy infrastructure.
On the newly painted partnership, Marathon Digital CEO Fred Thiel expressed the importance of such a relationship with Kenya's Ministry of Energy and Petroleum.
“This agreement with the Ministry of Energy and Petroleum is an important moment for our business as it gives us a clear framework to pursue opportunities in the Republic of Kenya. It demonstrates the innovative approach Kenya is taking to optimize their energy use and develop their technology infrastructure.”
According to the International Trade Administration (ITA), more than 80% of Kenya's electricity is generated by renewable energy sources.
Kenya's renewable energy sector supplies power to the grid using a mix of wind, solar, hydroelectric power and geothermal energy.
ITA pointed out that Kenya is one of the world's lowest cost geothermal power plants and a prime candidate for solar power generation due to the abundant amount of sunlight the African country receives every year.
Related: Marathon Digital, Kenyan Government Discusses Crypto Policy, Energy Use
While MOEP's partnership with Marathon Digital is paving the way for the Kenyan government to manage digital assets, it has been somewhat cautious, if not hostile, to embracing novel blockchain and cryptocurrency projects.
The Kenyan government has banned WorldCoin from operating in the country for a year in September 2023 after a series of recommendations from government agencies and officials.
The government cited privacy concerns, lack of transparency, and security issues as the main drivers of the ban on WorldCoin's biometric data collection.
Worldcoin may be able to resume operations in Kenya after the one-year ban is lifted, but it will need to reapply and obtain regulatory approval from the Capital Markets Authority of Kenya before offering its services in the country.
In addition, the project must complete a data protection impact assessment (DPIA) at a government-run data security workshop before resuming operations in Kenya.
