Marathon Digital Holdings will collaborate with the government of Kenya for the development of renewable energy projects leveraging bitcoin mining.
The mining company Marathon Digital Holdings has announced a collaboration with the Ministry of Energy and Petroleum of Kenya (MOEP) to develop the country’s renewable energy sector with an investment of over $80 million.
The agreement, reached after weeks of discussions, aims at a mutual exchange of technical and research knowledge, investment strategies, and energy infrastructure development. As part of the agreement, the country will monetize underutilized energy by developing a series of renewable energy projects based on Bitcoin mining.
Fred Thiel, CEO of Marathon, emphasized how this collaboration could provide a clear framework for pursuing energy opportunities in Kenya and optimizing the country’s energy usage and technological infrastructure.
According to the International Trade Administration (ITA), over 80% of Kenya’s electricity is generated from renewable sources, including wind, solar, hydroelectric, and geothermal energy. Among these, geothermal energy accounts for the majority of the country’s electricity. Kenya is also one of the world’s leading producers of low-cost geothermal energy and offers significant potential for solar energy generation due to the large amount of sunlight received annually.
