Marathon Digital Eying for Global Expansion: Partners with Kenyan Ministry of Energy

The American Bitcoin miner Marathon Digital Holding has entered into a partnership agreement with the Kenyan Ministry of Energy (MOEP). The partners will focus on the utilization of energy and the development of renewable energy sources.

The partnership with the industrial leader in crypto mining will support achieving 100% renewable energy by 2030. Also, the collaboration with the East African country demonstrates Marathon’s commitment to expand its footprint in Kenya while supporting sustainable energy sector growth.

Marathon Digital Partners with the Kenyan Ministry of Energy

To transform Kenya into 100% renewable energy, the MOEP and Marathon team will engage in various activities to foster green manufacturing and the development of zero-carbon products. The two will share knowledge and expertise to support the growth of renewable energy. 

The proposed knowledge-sharing exercise will involve policy development, technical support, and drafting of investment strategies. Additionally, the partners will conduct extensive research on critical infrastructures for building green energy. 

Marathon and MOEP intend to assess ways to optimize Kenyan renewable sources that are capable of producing surplus energy. To attain the partnership goal, the Marathon and MOEP will appoint a steering committee to oversee the development of renewable energy projects.

The committee will comprise top executives from MOEP and Marathon Digital. The Marathon team remains optimistic that the partnership will stimulate Kenyan economic growth and expand MOEP revenue streams.

The crypto miner projects that Kenyan 100% renewable energy will attract foreign investment to the region. 

Kenya Plans to Monetize Surplus Energy in Crypto Mining

A review of the MOEP report demonstrated that Kenya’s energy sources consist of hydroelectric power, geothermal energy, solar, and wind power. East Africa highly depends on geothermal energy for household and industrial use. 

With the shift to renewable energy sources, solar power is expected to generate a large amount of energy due to the adequate sunlight in Kenya.

A statement from the chairman of MOEP , Fred Thiel, reveals that the partnership with Marathon is critical in promoting economic growth in Kenya. The executive believed partnering with renowned Bitcoin miner would enable Kenyans and foreign companies to identify viable opportunities in digital space.

Thiel confirmed that the partnership demonstrates the innovative approach MOEP is taking in energy supply and infrastructure advancement. The ministry pledged to work closely with Marathon and President Ruto’s administration to bring innovation to the energy sector. 

In a subsequent report, the Marathon managing director of  EMEA, Manoj Narender Madnani, was pleased to state that the partnership was the first to collaborate with the government to build sustainable energy. 

The executive confirmed that Marathon has expanded its presence in UAE and Paraguay. Madnani believed that the partnership with the Kenyan authorities supports Marathon in scaling its global business in the future. 

Marathon Digital to Support Development of Sustainable Energy in Kenya

The executive believes that Marathon will help the Kenyan government bring innovation to the energy sector. The partnership agreement was signed at the US Chamber of Commerce on May 24 by Marathon and MOEP CEOs. 

At the beginning of this month, Kenyan President William Ruto unveiled the partnership with Marathon Digital. President described the collaboration with Marathon as important to Kenya’s business.

President Ruto explained that the partnership will focus on utilizing surplus energy to promote economic growth and create job opportunities. Ruto believes collaborating with Marathon will position Kenya as an industry leader in sustainable energy and technology. 

The President confirmed that the Marathon team will host intense discussions with Kenya National Treasury and the Ministry of Energy on energy consumption in crypto mining.

The partnership with a fast-paced crypto miner came when Kenya explored ways to regulate digital assets. Kenya believes that despite the benefits offered by crypto and blockchain, it is critical to regulate the digital sector to shield the public from exploitation. 

In September last year, the Kenyan government banned the Tool of Humanity eye scanning and biometric collection program Worldcoin. The government claimed that the Worldcoin operation violated data privacy requirements.