Crypto:
30253
Bitcoin:
$66.086
% 0.18
BTC Dominance:
%54.0
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Market Cap:
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% 1.30
Fear & Greed:
74 / 100
Bitcoin:
$ 66.086
BTC Dominance:
% 54.0
Market Cap:
$2.41 T

Marathon Digital Partners with Kenya to Transform Renewable Energy Sector

Marathon Digital

Amidst growing demand for Bitcoin mining farms and data centers, Marathon Digital , a global Bitcoin mining firm has signed a partnership deal with the Kenya Ministry of Energy and Petroleum (MOEP). The idea behind this partnership is the desire to bring fruitful changes into the Kenyan renewable energy industry with the help of Marathon Digital.

Focus on Knowledge Exchange and Infrastructure Development

Marathon Digital is entering the partnership with MOEP which will focus of sharing technical expertise, information, policy recommendations, funding models for investment, and required energy assets. Marathon Digital CEO Fred Thiel highlighted the significance of this agreement, stating:

“This is largely a landmark agreement because it allows us to chart a clear course forward for our enterprise in the Republic of Kenya with regards to the Ministry of Energy and Petroleum. The new framework is a prime example of utilizing advanced technology to best meet the Republic of Kenya’s energy consumption demands while introducing innovative policies.”

In a recent report, ITA noted that renewable electricity generation in Kenya has registered a figure of more than eighty percent, mainly through wind, solar, hydroelectric power and geothermal energy. Among these renewable resources, geothermal energy ranks high and supplies the highest portion of electricity to Kenya’s electrical network, thus putting the nation amongst the cheapest geothermal energy producers globally.

Kenya’s Evolving Stance on Digital Assets

This is the partnership with Marathon Digital which is very progressive for Kenya’s government because up until now, it has been quite reserved, if not negative, towards blockchain and cryptocurrencies projects. This restraint and judicial approach was evident in the recent ban in September 2023 by the Kenyan government which banned Worldcoin from operating in the country for one full year. The absence of moderation policies, complaints regarding Worldcoin’s invasion of privacy by collecting biometric scans contributed to the ban.

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The return of Worldcoin to Kenya was conditioned by compliance with the conditions referring to the approval of the Capital Markets Authority, as well as the fulfillment of the DPIA and the data security state-organized workshop.

Such cooperation with Marathon Digital shows that Kenya is ready to adopt process innovations; however, the government will do its best to adopt adequate legal tools to protect people and their rights. This partnership is expected to strengthen Kenya’s on renewable energy and energy technology and provide future roadmap for other similar technologies within the country.

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