Marathon is discussing with Kenya to support its green energy goals through Bitcoin mining

Kenya’s President William Ruto is seeking to establish a regulatory framework for cryptocurrency, with assistance from Marathon.

Kenya has been seeking advice from Marathon Digital Holdings, a bitcoin mining company, regarding its energy strategies and cryptocurrency regulations. The country relies on renewable energy sources, which are subject to seasonal fluctuations and require significant capital investment.

Marathon Digital (MARA), a leading Bitcoin mining firm, has engaged in discussions with Kenya to assist in the management of the country’s renewable energy resources through mining operations and to advance its cryptocurrency regulatory framework.

“We’ve been collaborating closely with the Kenyan government on strategies for optimizing and leveraging renewable energy assets,” stated Jayson Browder, Vice President of Government Affairs at MARA, in an interview with CoinDesk. Kenya’s President, William Ruto, recently met with Marathon’s team during an American Chamber of Commerce event held in Kenya.

As of 2022, renewable sources accounted for over 80% of Kenya’s electricity generation, with President Ruto aiming to achieve 100% reliance on renewables by 2030. Kenya is poised to join countries like Congo and Uganda, which predominantly rely on renewable energy sources, as noted by the International Renewable Energy Agency.

Kenya relies primarily on geothermal energy from the earth’s crust, alongside wind and solar power, for its renewable energy needs. While geothermal energy offers consistent output, other renewables like wind and solar can present challenges due to their intermittency. Marathon, a company aiming to address this issue, proposes leveraging its technology to manage power effectively in Kenya.

One major challenge with renewables is their reliance on specific weather conditions for electricity generation, leading to inconsistency and storage issues. To optimize the use of these energy sources, a power management system is essential for balancing the grid. Marathon suggests employing bitcoin mining operations to serve as such a system, utilizing surplus energy generated from renewables. These mining operations can adjust their activity levels, including shutdowns during times of high demand, to stabilize the grid.

The flexibility of bitcoin mining operations allows them to be deployed wherever necessary, aiding in grid balancing efforts. As Marathon CEO Browder explains, their modular technology enables them to establish mining sites near renewable energy sources, ensuring efficient utilization of excess power. A similar initiative was undertaken in Paraguay, showcasing the potential for co-locating mining operations with renewable energy production to capitalize on surplus energy.

Browder mentioned that our technology can assist in monetizing and optimizing various energy assets. However, the Kenyan government did not provide any response to CoinDesk’s inquiry regarding this matter.

A crypto regime

Bowder stated that while the initial discussion between Marathon and Kenya centered on renewable energy solutions, it eventually shifted towards the country’s president seeking insights on a crypto regulatory system. As nations globally endeavor to establish their crypto frameworks, recent efforts have been observed in various regions, including Western countries like Europe and the U.K., where new laws have been introduced to oversee this emerging technology. Similarly, African nations like South Africa have initiated the licensing of crypto entities.

Expressing the Kenyan government’s aspiration to spearhead advancements in technology and innovation, Bowder highlighted their commitment to internal investment and collaboration with leading firms to foster growth. This endeavor encompasses the establishment of a suitable regulatory structure for digital assets, potentially incorporating the development of a cryptocurrency exchange, whether operated by the government or the private sector.

The objective behind such regulatory measures and the establishment of a crypto exchange is to empower the Kenyan government to effectively oversee the trading and exchange of crypto assets within its jurisdiction. Bowder emphasized their enthusiasm for supporting the forward-thinking approach of the Kenyan government in this regard.

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