BTC mining firm Marathon Digital, aka MARA, closed a deal with Kenya's Ministry of Energy and Petroleum. The new agreement will allow the Bitcoin mining company to help the African country develop its green energy infrastructure.
BTC Mining Firm Marathon Digital Closes Deal With Kenya
On Friday, May 24, Marathon Digital CEO Fred Thiel announced the new deal between the crypto mining company and Kenya. He posted on X to share his excitement regarding the agreement.
"Signed! Kenya and @MarathonDH sign a historic deal for monetizing underutilized energy across Kenya and jointly developing technology projects," said the MARA chairman via his official X post.
Some X users said the deal is historic since it would enhance the Bitcoin ecosystem and benefit Kenya's energy sector. However, others are doubtful, asking the company about the underlying terms and conditions.
About MARA-Kenya Deal
According to CoinDesk's latest report, the new partnership between MARA and Kenya aims to monetize the underutilized energy in the African country. The deal would also allow Kenya and the BTC mining company to jointly develop clean technology projects.
Fred Thiel said the deal will include foreign investments worth $80 million. However, he didn't disclose where the exact sources of funds.
But, the MARA chief executive promised that the agreement between them and the Ministry of Energy and Petroleum would greatly benefit the Kenyan economy. He added that the deal would also bring revenue for the local energy sector ecosystem.
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