Marathon miner to invest $80 million to build green data centers in Kenya

This is the first case of direct cooperation with the government for the company

27.05.2024 - 13:40

550

2 min

What’s new? Marathon Digital, the largest publicly traded American bitcoin mining company, has entered into an agreement with the Kenyan authorities to develop the country’s energy sector using renewable sources. The company will invest over $80 million to build green data centers.

Press release

What else is known? In addition, through the partnership, Marathon and the Ministry of Energy and Petroleum of the Republic of Kenya (MOEP) will share policy, scientific, and technical information as well as investment experience to optimize renewable energy projects.

They will establish a committee comprising officials from both sides that will enable such projects to be implemented across the country, benefiting Kenya’s economy and benefiting the local energy sector ecosystem.

Paraguay’s Congress will consider introducing prison sentences of up to 10 years for illegal mining

The bill would also allow law enforcement to confiscate and sell off equipment from illegal farms

One of the goals of the project is to smooth out seasonal fluctuations in resource production based on renewable sources.

“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,” noted Fred Thiel, Marathon’s chairman and CEO.

Manoj Narender Madnani, Marathon’s managing director of the EMEA region, added that the company already has successful operations in the UAE and Paraguay, but this agreement marks the first direct collaboration with a government to improve energy infrastructure. He described the agreement as an important step towards expanding Marathon’s international business in the coming years.

Author: