Bitcoin Miner Marathon In Talks With Kenya to Help With Its Green Energy Ambitions

As a researcher with a background in renewable energy and cryptocurrency, I find Kenya’s collaboration with Marathon Digital Holdings (MARA) to be an intriguing development. Kenya’s heavy reliance on renewable energy sources, which are often seasonal and capital-intensive, makes it an ideal candidate for solutions that can help manage power supply and demand more efficiently.

Marathon Digital, a leading Bitcoin mining company, has engaged in discussions with Kenyan authorities to facilitate the utilization of their abundant renewable energy resources for mining activities and establish a regulatory framework for cryptocurrencies.

As a crypto investor following the news in the renewable energy sector, I’m excited about MARA’s progress in collaborating closely with the Kenyan government. During a recent encounter at an American Chamber of Commerce event in Kenya, MARA’s Vice President of Government Affairs, Jayson Browder, had the privilege of meeting Kenya’s President William Ruto. This significant interaction underscores our collective efforts to optimize and monetize renewable energy assets in this forward-thinking African nation.

As an analyst, I’d rephrase it this way: According to the latest data from 2022, renewable energy accounted for over 80% of Kenya’s electricity production. President Ruto has expressed his intention to boost this figure to 100% by the year 2030. Notably, Kenya is on the brink of joining countries like Congo and Uganda, which currently derive almost all their electricity from renewable energy sources, as reported by the International Renewable Energy Agency.

As a analyst, I would express it this way: I have analyzed Kenya’s energy landscape and discovered that geothermal energy derived from the earth’s crust serves as the country’s primary renewable power source. This energy source is consistent and not influenced by seasonal changes. However, I have also identified that other renewable energies, specifically wind and solar, can present challenges for Kenya’s power supply due to their inherent dependence on weather conditions.

Marathon enters the scene, confidently proposing a solution to Kenya’s power management issue through their advanced technology.

As a crypto investor with an interest in renewable energy, I’ve noticed that one of the biggest challenges is the intermittent nature of solar and wind power. Since electricity generation depends on weather conditions, there can be inconsistencies in supply, making it difficult for users to rely solely on these sources. To maximize their benefits, this energy must either be stored or dissipated, which necessitates a sophisticated power management system that ensures a balanced grid.

Companies such as Marathon can configure their bitcoin mining activities to function like an intelligent power management system. By doing so, they can effectively utilize surplus energy derived from renewable sources. Furthermore, miners possess the ability to temporarily halt their operations during peak energy demand periods. This strategy not only enables the grid to maintain stability but also ensures uninterrupted power supply for other consumers.

Due to the mobility of Bitcoin mining operations, businesses have the flexibility to establish facilities in various locations, contributing to power grid equilibrium.

“Browder explained that the tech is flexible in terms of location, can be used alongside various power sources, and has the capability to shut down our equipment during grid instability caused by intermittent renewable energy sources like wind or solar, thus maintaining grid balance.”

Last year, our company initiated a comparable project in Paraguay, focusing on a 100% renewable-powered Bitcoin mining operation. This endeavor enabled us to place mining facilities near energy sources that generate surplus power. As a result, we could effectively capitalize on these resources by monetizing the excess energy for our mining activities.

“In other words, the tech we use can be employed to generate income from and improve the efficiency of certain energy resources,” Browder explained.

The Kenyan government did not respond to CoinDesk’s request for comments on the story.

A crypto regime

According to Bowder’s account, the dialogue between Marathon and Kenya initially revolved around renewable energy proposals. However, the conversation took an unexpected turn when the country’s president inquired about Marathon’s perspectives on establishing a cryptocurrency framework.

Countries worldwide are working on establishing frameworks for cryptocurrencies. In Europe and the UK, fresh regulations have been introduced to oversee the development of this emerging tech. Meanwhile, countries such as South Africa in Africa have begun granting licenses to crypto businesses.

The Kenyan administration aspires to spearhead technological advancements and innovation. To accomplish this, they plan to invest domestically and invite prominent tech companies. This strategy encompasses establishing an appropriate regulatory system for digital assets, potentially leading to the establishment of a cryptocurrency exchange, whether government-owned or privately managed.

As a researcher studying the implementation of cryptocurrency regulations in Kenya, I would explain that the role of the regulatory framework and crypto exchanges is to provide the Kenyan government with the necessary tools to oversee and control the buying, selling, and trading activities of crypto assets within its jurisdiction.

“We’re excited about supporting the Kenyan government’s forward-thinking,” Browder said.