CEO Fred Thiel spoke highly of the benefits of working with the Kenyan Ministry.
More than 80% of Kenya’s power comes from renewable sources, according to the ITA.
Marathon Digital, a prominent Bitcoin miner, has teamed up with the Kenyan Ministry of Energy and Petroleum (MOEP) to further expand the renewable energy industry in the nation, which is currently booming.
The main goals of the collaboration are to build essential energy infrastructure, share ideas for policies and investments, and exchange technical information and research. Marathon Digital CEO Fred Thiel spoke highly of the benefits of working with the Kenyan Ministry of Energy and Petroleum after the recently signed partnership.
Banking on Renewable Energy
More than 80% of Kenya’s power comes from renewable sources, according to the International Trade Administration (ITA). Wind, solar, hydroelectric, and geothermal power all play a role in Kenya’s renewable energy industry, although the country’s electrical infrastructure gets the bulk of its electricity from geothermal sources.
In addition to being one of the most cost-effective geothermal energy producers globally, the ITA highlighted Kenya as an ideal location for solar power because of the country’s abundant annual sunshine.
Kenya’s government has been looking at ways to control digital assets, but it has been wary, if not downright antagonistic, toward the adoption of new blockchain and cryptocurrency projects. This changes with MOEP’s partnership with Marathon Digital.
Worldcoin was prohibited from functioning in Kenya for one year in September 2023 after a number of recommendations from government agencies and authorities. The main reasons given by the government for banning Worldcoin’s collecting of biometric data were privacy concerns, a lack of transparency, and security difficulties.
After the one-year prohibition is removed, Worldcoin may potentially begin operations in Kenya. However, before it can do so, it has to reapply and get regulatory permission from Kenya’s Capital Markets Authority.
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