Marathon Digital is a Bitcoin mining company that has recently entered into a partnership with Kenya’s Ministry of Energy and Petroleum (MOEP). This collaboration is expected to profoundly transform the Kenyan renewable energy industry with Marathon Digital’s assistance for the development of energy solutions and strategies.
Marathon Digital has struck a deal with the Ministry of Energy and Petroleum of Kenya to enhance the nation’s renewable power endeavors. The cooperation will be based on sharing technical expertise, policies, investments, and building of the necessary energy assets.
This is considered the major strategic move for Marathon Digital as it opens up a clear roadmap of how the company can expand and invest in opportunities in Kenya. Fred Thiel, the Marathon Digital CEO mentioned that this partnership indicates the innovative approach taken in Kenya to improve the utilization of energy and the enhancement of technological systems.
Currently, Kenya is among the leading countries in the utilization of renewable energy sources, as more than 80% of electricity is produced using renewables, as noted by the ITA. The renewable energy sources in the country include wind, solar, hydropower, and geothermal, and out of all these the largest source is geothermal. Kenya has been identified as one of the cheapest producers of geothermal power in the world, and it is endowed with excellent solar resources.
Although Kenya is among the African countries with progressive policies on renewable energy, the government has not yet been very receptive to digital currencies and blockchain solutions. In September 2023, the Kenyan authorities decided to ban the activities of Worldcoin for one year. Worldcoin is a cryptocurrency project that aims to create a digital asset company that desires to ensure fairness without any fraud.
This ban on Worldcoin by Kenya’s Ministry stemmed from the opinions of different governmental bodies and authorities due to privacy, transparency, and security issues connected with the collection of biometric data by Worldcoin. The government insisted that Worldcoin had to seek authorization from the Capital Markets Authority of Kenya and conduct a DPIA and a state-led data security workshop before it could resume operations in the country.
What CoinGabbar has piled up with this finding is that the Marathon Digital has signed a deal with Kenya’s Ministry of Energy and Petroleum, marking a new chapter in the relationship between renewable energy and digital technology. Although Kenya is one of the leading countries in the generation of renewable energy, this new partnership demonstrates Kenya’s interest in innovative methods in energy management as well as in technology. Nevertheless, the critical attitude towards digital assets, such as the temporary ban on Worldcoin proves that the government prioritizes the citizens’ privacy and security. This ensures that Kenya encourages new technologies but citizens’ data and privacy are protected.
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