Marathon Digital Holdings Partners with Kenya to Boost Tech and Energy Projects

A memorandum of understanding (MOU) has been struck between Kenya’s Ministry of Energy and Petroleum and U.S.-based cryptocurrency mining business Marathon Digital Holdings. Through this collaboration, a sizable investment in Kenya’s digital infrastructure will be made in the form of technological initiatives and the monetization of underused energy.

Marathon would provide $80 million to Kenya’s internet infrastructure as per the deal. This involves boosting economic growth nationwide, developing technical infrastructure, and optimizing renewable energy projects through the use of green data centers. Through the MOU, Kenya will be able to manage the program with a joint steering group made up of executives from Marathon and government officials.

Optimizing Energy and Enhancing Infrastructure

Marathon CEO Fred Thiel, who signed the MOU on May 24, highlighted the significance of this agreement. He remarked, “This agreement with the Ministry of Energy and Petroleum is a pivotal moment for our business as it provides us with a clear framework to pursue opportunities across the Republic of Kenya. It demonstrates the innovative approach that Kenya is taking to optimize their energy usage and to enhance their technological infrastructure.”

Thiel emphasized Marathon’s readiness to collaborate with Kenyan leaders and other stakeholders to find innovative and efficient ways to improve the country’s energy infrastructure.

The MOU signing ceremony took place at the U.S. Chamber of Commerce and was attended by notable figures, including Kenyan President William Ruto and U.S. Ambassador Meg Whitman. This partnership underscores the strategic importance of international collaboration in fostering technological advancement and economic development.

With this agreement, Marathon Digital Holdings and Kenya’s Ministry of Energy and Petroleum aim to leverage underutilized energy resources and advance Kenya’s position as a hub for digital innovation and sustainable energy use.