Kenyan President, William Ruto, recently disclosed that Bitcoin mining company, Marathon Digital Holdings, has been invited to engage in consultations with the country’s National Treasury and the Energy Ministry regarding a cryptocurrency framework.
With the Ministry of Energy, Ruto said Marathon Digital will discuss the energy needs in connection with cryptocurrency mining.
“Marathon Digital has been ushered to consult with Treasury on cryptocurrency regime and ministry of energy to discuss the energy needs in connection with the cryptocurrency mining,” he said at a meeting with American investors in Nairobi last week [Week of April 22 2024].
During the @AmChamKE Business Summit in Nairobi, Kenya’s president @WilliamsRuto met with the MARA team to discuss how our digital asset data centers can spur energy development in the region and foster US-East Africa trade relations. Watch the clip here: pic.twitter.com/ZgguTXdi4T
— MARA (@MarathonDH) May 1, 2024
The President was speaking during AMCHAM Business Summit in Nairobi. Also present were:
- United States Secretary of Commerce, Gina Raimondo
- Kenya Investment and Trade Cabinet Secretary Rebecca Miano
- U.S. Ambassador to Kenya, Met Whitman, and
- representatives of many American and Kenyan companies and government officials
Marathon Digital Holdings is a digital asset technology company engaged in several activities around the Bitcoin ecosystem including:
- Owning and operating bitcoin mining facilities or data centers
- Selling proprietary software or technology to third parties operating in the Bitcoin ecosystem
- Offering advisory and consulting services to support bitcoin mining ventures in domestic and international jurisdictions
- Generating electricity from renewable energy resources or methane gas capture to power bitcoin mining projects
Marathon Digital operates 225,589 mining rigs across 11 sites globally, with an installed and energized hash rate of 27.8 exahashes per second. The Company has mined over 12,852 bitcoins, with its sites running on wind, nuclear, geothermal, and grid electricity.
“Marathon’s original facilities were self-funded and self-hosted. Today, we are leveraging our expertise in building and operating our own sites to grow our hash rate in new geographies and with like-minded organizations looking to enhance the resilience of the Bitcoin network.
By jointly working alongside regional experts to design new facilities from the ground up, we can maintain greater influence over projects that require a more hands-on approach.”
The Marathon Digital business is also active in Bitcoin-related projects related to the technological development of immersion, hardware, firmware, mining pools, and side chains that use the blockchain cryptography.
Since coming to power in 2022, President Ruto has been wooing foreign investors to exploit Kenya’s green energy credentials. Kenya’s electricity supply is already 92% renewable, with 74% of its overall energy use powered by clean energy, according to President Ruto.
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About Marathon Digital
Marathon Digital Holdings is one of the largest, most energy efficient, and most technologically advanced Bitcoin mining companies, as well as one of the largest holders of Bitcoin (“BTC”) among publicly traded companies in North America.
Marathon Digital Holdings is a publicly traded company (NASDAQ: MARA). The investor relations website includes detailed information on its financial performance, latest corporate updates, SEC filings, and more.
Marathon Digital Holdings works with companies, municipalities, and institutions that have stranded power, expertise in energy and microgrids, cutting edge Bitcoin mining technologies, and a keen interest in researching or supporting Bitcoin. The company offers its partners access to our unique expertise in building and scaling Bitcoin mining operations as well as the opportunity to help support the Bitcoin network.
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