Regulation
Kenya government works with Marathon Digital on cryptocurrency regime and Bitcoin mining – BitKE
Kenyan President William Ruto recently revealed that Bitcoin mining company Marathon Digital Holdings has been invited to enter into consultations with the country’s National Treasury and the Ministry of Energy regarding a cryptocurrency framework.
Along with the Ministry of Energy, Ruto said Marathon Digital would discuss energy requirements related to cryptocurrency mining.
“Marathon Digital has been invited to consult with the Treasury on the cryptocurrency regime and the Department of Energy to discuss the energy requirements related to cryptocurrency mining,” he said during a meeting with American investors in Nairobi last week. [Week of April 22 2024].
During the @AmChamKE Business Summit in Nairobi, President of Kenya @WilliamsRuto met with the MARA team to discuss how our digital asset data centers can drive energy development in the region and foster trade relations between the United States and East Africa. Watch the clip here: pic.twitter.com/ZgguTXdi4T
– MARA (@MarathonDH) May 1, 2024
The President was speaking at the AMCHAM Business Summit in Nairobi. Also present were:
- United States Commerce Secretary Gina Raimondo
- Rebecca Miano, Kenyan Cabinet Secretary for Investment and Trade
- The United States Ambassador to Kenya, Met Whitman, and
- representatives from numerous U.S. and Kenyan companies and government officials
Marathon Digital Holdings is a digital asset technology company engaged in several activities around the Bitcoin ecosystem, including:
- Own and operate Bitcoin mining facilities or data centers
- Sell proprietary software or technology to third parties operating in the Bitcoin ecosystem
- Providing advisory and advisory services to support bitcoin mining businesses in domestic and international jurisdictions
- Generate electricity from renewable energy resources or methane capture to power bitcoin mining projects
Digital marathon operates 225,589 mining rigs across 11 locations worldwide, with an installed and powered hash rate of 27.8 exahashes per second. The company has mined over 12,852 bitcoins, and its sites run on wind, nuclear, geothermal, and grid electricity.
“The original Marathon facilities were self-funded and self-hosted. Today, we leverage our expertise in building and operating our own sites to increase our hash rate in new geographies and with like-minded organizations seeking to improve the resilience of the Bitcoin network.
By working jointly with regional experts to design new facilities from the ground up, we can retain greater influence on projects that require a more hands-on approach.
The Marathon Digital company is also active in Bitcoin-related projects related to the technological development of immersion, hardware, firmware, mining pools and side chains using blockchain cryptography.
Since coming to power in 2022, President Ruto has been courting foreign investors to exploit Kenya’s green energy strengths. Kenya’s electricity supply is already 92% renewable, with 74% of its overall energy consumption comes from clean energyaccording to President Ruto.
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About Marathon Digital
See also
Marathon Digital Holdings is a publicly traded company (NASDAQ: MARA). The Investor Relations website includes detailed information on its financial performance, latest company updates, SEC filings, and more.
Marathon Digital Holdings works with companies, municipalities and institutions that have stranded electricity, energy and microgrid expertise, cutting-edge Bitcoin mining technologies and a keen interest in mining. research or support for Bitcoin. The Company offers its partners access to our unique expertise in building and scaling Bitcoin mining operations as well as the opportunity to contribute to supporting the Bitcoin network.
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