Marathon Digital has partnered with Kenya to harness untapped renewable energy.
Marathon Digital has partnered with Kenya to mine untapped energy in the country for Bitcoin mining.
The agreement will invest more than $80 million in projects aimed at enhancing the use and optimization of renewable energy.
Bitcoin mining firm Marathon Digital has signed a major deal with Kenya's Ministry of Energy and Petroleum.
The deal, sealed today, May 24, 2024, will give BTC Miner a partnership to mine the country's untapped Bitcoin.
A marathon to tap the underutilized renewable energy in Kenya
Marathon concluded the agreement during Kenyan President William Ruto's visit to the US.
According to the company, the agreement will invest more than $80 million in green data centers to increase the use and optimization of renewable energy in the Republic of Kenya.
“This agreement with the Ministry of Energy and Petroleum is an important moment for our business as it provides us with a clear framework to pursue opportunities in the Republic of Kenya,” said Fred Thiel, Chairman and CEO of Marathon. press release.
Thiel added that the company will work with the Kenyan government and other stakeholders to support initiatives to facilitate energy use and develop key technology infrastructure across the country.
Today's agreement follows earlier consultations between Marathon and Kenya, which is designed to boost the country's renewable energy sector.
MOEP and Marathon will “exchange policy, scientific and technical information, as well as project investment knowledge to better understand how to optimize renewable energy projects that produce surplus energy due to shifting and seasonal variations,” the company said in a press release. Release.
Latest data He showed. Kenya's renewable energy sources account for more than 80% of the country's electricity generation. Geothermal is the largest of these renewable or clean energy sources.
But despite the estimated potential of 10,000 MW, it is largely untapped. The installed capacity was around 860MW by 2022.
