Bitcoin Miner Marathon Digital Signs Deal With Kenya to Invest in Green Energy Projects
Bitcoin mining company Marathon Digital has partnered with Kenya's Ministry of Energy and Petroleum to develop the country's energy infrastructure. The deal involves over $80 million in investments, including foreign funds, aimed at monetizing underutilized energy across Kenya and developing technology projects. The investment will be used in green data centers, contributing to the local energy sector ecosystem and the Kenyan economy. The partnership follows discussions between Marathon and Kenya on managing the country's renewable energy operations and advising on its digital asset regulatory regime. Renewable energy, which accounts for 80% of Kenya's electricity generation, is set to increase to 100% by the end of the decade. The agreement will help optimize renewable energy projects that produce surplus energy due to intermittency and seasonal variations. Following the announcement, Marathon shares traded 6% higher.
