Marathon Digital partners with Kenya to harness untapped renewable energy

• Marathon Digital has partnered with Kenya to leverage unused energy across the country to mine Bitcoin.
• As a result of the transaction, over USD 80 million will be invested in projects aimed at increasing the use and optimization of renewable energy.

Bitcoin mining company Marathon Digital has signed a major deal with Kenya’s Ministry of Energy and Petroleum.

Signed today, May 24, 2024, the agreement provides for a partnership in which the BTC miner will use the country’s untapped energy to mine Bitcoin.

A marathon to harness untapped renewable energy in Kenya

Marathon reached the agreement during Kenyan President William Ruto’s state visit to the US.

According to the company, under the agreement, more than $80 million will be invested in “green data centers aimed at increasing the use and optimization of renewable energy in the Republic of Kenya.”

“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, president and CEO of Marathon press release.

The company will work with the Kenyan government and other stakeholders to support initiatives to optimize energy consumption across the country, as well as develop key technology infrastructure, Thiel added.

Today’s agreement follows earlier consultations between Marathon and Kenya, and the agreement aims to strengthen the country’s renewable energy sector.

MOEP and Marathon are set to “exchange policy, scientific and technical information as well as project investment expertise to better understand how to optimize renewable energy projects that produce excess energy due to intermittency and seasonal fluctuations– the company said in a press release.

Latest data showed that renewable energy sources in Kenya account for over 80% of the country’s electricity production. Of these renewable or clean energy sources, geothermal energy is the most important.

Although its potential is estimated at 10,000 MW, it remains largely untapped. In 2022, the installed capacity was approximately 860 MW.