The U.S. company would be collaborating with the local government on policies regarding Bitcoin and mining energy consumption: possible expansion in Kenya for the company?
The mining company Marathon Digital is reportedly collaborating closely with the Ministry of Energy and the National Treasury of Kenya on policies regarding Bitcoin and energy consumption from mining. The news of the bill was announced by Kenya’s President William Ruto at the Kenya Business Summit of the American Chamber of Commerce, attended by U.S. Secretary of Commerce Gina Raimondo.
Regarding the recent talks with Marathon, Ruto stated:
“This is a strong testament of the vast transformative possibilities that exist in an expanded and comprehensive understanding between the U.S. [and] East Africa concerning trade and investment.”
If the talks were to lead to Marathon’s expansion in Kenya, it would be the second Bitcoin mining initiative in the country after Gridless Compute, a company that provides electricity to entire rural African villages through mining.
Inclusion in the S&P SmallCap 600 for Marathon
On May 3rd, the S&P Dow Jones Indices announced that Marathon would replace the heating and ventilation manufacturing company Aaon within the S&P SmallCap 600 index. Marathon’s inclusion in the S&P SmallCap 600 will take place on May 8th.
The S&P SmallCap 600 is a stock market index that tracks 600 U.S. companies with a market capitalization ranging from $1 billion to $6.7 billion, all of which have reported profits in both the most recent quarter and the last four quarters.
