Marathon Digital Holdings, a company specializing in cryptocurrency mining based in the United States, recently inked a memorandum of understanding (MOU) with Kenya’s Ministry of Energy and Petroleum. This agreement solidifies Marathon’s commitment to investing $80 million in Kenya’s digital infrastructure. As a result of the MOU signing, a joint steering committee will be established consisting of officials from the ministry and executives from Marathon.
The primary objective of the MOU is for Marathon to capitalize on underutilized energy resources in Kenya and collaborate on technology projects. In line with this, Marathon plans to channel its investment towards digital infrastructure within the country. Additionally, the agreement allows for the utilization of Marathon’s eco-friendly data centers to optimize renewable energy initiatives. The partnership is expected to foster economic growth and advance technological infrastructure throughout Kenya.
Fred Thiel, representing Marathon Digital, expressed his enthusiasm for the agreement and highlighted its significance. He noted that it provides a solid framework for his company to explore opportunities in the Republic of Kenya. Thiel commended Kenya’s innovative approach to energy optimization and enhancing technological infrastructure. He also emphasized Marathon’s readiness to work alongside Kenyan leaders and other stakeholders in their pursuit of innovative and effective energy infrastructure solutions.
The signing ceremony took place at the U.S. Chamber of Commerce and was attended by Kenyan President William Ruto and U.S. Ambassador Meg Whitman. The event marks a pivotal milestone for Marathon Digital and signifies the fruitful collaboration between the company and the Kenyan government.
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