Kenya Partners with Marathon Digital for BTC Mining and Energy Utilization

As a researcher with a background in energy policy and digital currencies, I’m thrilled to see Kenya’s latest partnership with Marathon Digital Holdings to utilize excess power for Bitcoin mining. This development holds significant implications for both the energy sector and the digital currency industry in Kenya and beyond.

Kenya has recently entered into a collaboration with Marathon Digital Holdings to leverage excess power for Bitcoin mining and associated technology within the country. According to Fred Thiel, CEO of Marathon Digital Holdings, this move is in line with Kenya’s acceptance and progression towards digital currencies, inspired by the achievements of the M-PESA mobile money service.

Marathon Digital Holdings intends to make use of this power source for Bitcoin mining, with the belief that it will generate higher revenues and consume less energy in the process.

Kenya holds a significant place in digital currency history as it is the birthplace of M-PESA, launched in 2007, which marked one of the earliest methods for individuals in Kenya and now throughout Africa to digitally transfer value using mobile phone credits. Currently, over tens of millions of people across Africa utilize this service.
— Fred Thiel (@fgthiel) May 24, 2024

President William Ruto expressed gratitude for Marathon’s collaboration and noted their productive discussions with Kenya’s National Treasury and Ministry of Energy. This project encompasses the application of energy in mining operations, as well as joint endeavors to progress technology and build essential infrastructure in Kenya.

President Ruto emphasized the economic benefits and stated, “Kenya is open for business. By effectively leveraging excess energy, Kenya has the potential to produce economic profits, foster new employment opportunities, and spearhead sustainable energy innovations.”

2024-05-24 22:45

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