- Bitcoin miner Marathon inks deal with Kenya's Energy Ministry.
- Marathon will help develop African nation's renewable energy infrastructure.
- Miner plans to develop data centres to optimise renewable energy use.
Major Bitcoin miner Marathon Digital Holdings agreed with the Ministry of Energy and Petroleum (MOEP) of the Republic of Kenya to help develop the African nation’s renewable energy infrastructure with technical expertise and foreign investments of more than $80 million.
“The partnership underscores Marathon’s commitment to supporting the sustainable growth of the energy sector and is part of the company’s broader strategy to diversify its operations globally,” Marathon said in a news release.
Although the release contained no direct mention of Bitcoin mining, earlier this month Marathon representatives met with Kenya’s President William Ruto to discuss how digital asset data centres could spur energy development and foster trade relations, according to a social media post.
“This agreement with the Ministry of Energy and Petroleum is a pivotal moment for our business as it provides us with a clear framework to pursue opportunities across the Republic of Kenya,” said Fred Thiel, Marathon’s chairman and CEO.
The agreement is the company’s first direct collaboration with a government to enhance their energy infrastructure, according to the news release.
Under the terms of the agreement, MOEP and Marathon will exchange policy, scientific, and technical information, as well as project investment expertise, to better understand how to optimise renewable energy projects that produce surplus energy amid intermittency and seasonal variations.
Marathon said in a post on X that it planned to establish green data centres to increase Kenya’s renewable energy utilisation and optimisation.
Crypto market movers
- Bitcoin is up 02.51% today at $68,656.45.
- Ethereum is up 2.07% today at $3,749.36.