Marathon Digital Partners with Kenya to Boost Renewable Energy Sector

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Key Takeaways

  •  A Joint Steering Committee, composed of senior officials from both entities, will oversee the development and implementation of energy-related projects across Kenya.
  • Marathon plans to establish green data centres to increase Kenya’s renewable energy utilisation 

Bitcoin mining giant Marathon Digital has announced a partnership with Kenya’s Ministry of Energy and Petroleum (MOEP) to advance the country’s renewable energy infrastructure. This collaboration which involves foreign investment worth $80 Million aims to optimize renewable energy projects, especially those producing surplus energy due to intermittency and seasonal variations.

Under the agreement, MOEP and Marathon will exchange policy, scientific, and technical information, along with investment expertise. A Joint Steering Committee, composed of senior officials from both entities, will oversee the development and implementation of energy-related projects across Kenya. According to Marathon,it plans to establish green data centres to increase Kenya’s renewable energy utilisation and optimisation.

Marathon Digital CEO Fred Thiel highlighted the significance of this collaboration, stating, “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. It demonstrates the innovative approach that Kenya is taking to optimize their energy usage and to enhance their technological infrastructure.”

Kenya has been ranked 46th globally on the Energy Transition Index (ETI), scoring 57.8 points. Currently, nearly 90% of Kenya’s energy comes from renewable resources, with 45% from geothermal sources and 26% from hydropower. However, the renewable energy sector faces challenges in meeting peak demand due to the intermittent nature of these sources.

To address this, Kenya is increasing its battery capacity and adding alternative options to the grid to ensure a steady flow of energy and to prevent excess energy produced during off-peak hours from being wasted.

Additionally, Kenya is investing in green hydrogen to complement its renewable energy sources, including solar, wind, and geothermal. The country aims to generate 100% of its electricity from renewable sources by 2030.

Kenya is also a leading cryptocurrency market in East Africa, with the highest volume and interest in the sub-region. In February 2024, the Blockchain Association of Kenya (BAK) drafted the country’s first Virtual Assets Service Provider (VASP) bill to regulate Kenya’s digital asset market.

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Saniya Raahath
Saniya Raahath

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