Marathon Digital Holdings has partnered with Kenya to monetize underutilized energy.Marathon chairman and CEO Fred Thiel signed the agreement with Kenya’s Prime Cabinet Secretary, Hon. Musalia Mudavadi, E.G.H, on May 24.Thiel said the deal will involve Kenya and Marathon “jointly developing technology projects.”Thiel described a partial focus on digital assets, stating that the country has a “special spot in the history of digital currencies” and that Marathon will “play a part in the next phase.”According to Marathon’s official press release, the agreement will give Marathon a framework to pursue business opportunities across Kenya.It will focus on using green data centers to optimize renewable renewable energy projects, including those that produce excess energy due to seasonal variations and intermittency.The two partners will exchange policy, scientific, and technical information and share project investment expertise toward a better understanding of optimization.Senior officials from Marathon and the Ministry of Energy and Petroleum will also participate in a Joint Steering Committee tasked with developing and implementing the relevant energy projects.For Kenya, the initiative will support sustainable energy growth, produce economic benefits, and generate revenue within the country’s local energy sector.The agreement is expected to attract roughly $80 million in foreign investments for the country.The latest releases do not explicitly mention mining applications.However, Kenyan President William Ruto previously stated that Marathon Digital will consult with its Ministry of Energy and Petroleum on crypto mining.Marathon will also work with Kenya’s National Treasury on its crypto regime.Marathon is the largest Bitcoin mining firm by at least two measures, boasting a stock market cap of $5.78 billion and 17,631 BTC in Bitcoin holdings as of May 1. The company recently reported record net income and revenue for the first quarter and entered the S&P SmallCap 600.Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Your daily dose of must-have crypto news and deep dives. Direct to your inbox.The Nigerian government maintains Gambaryan and Binance would be allowed to themselves in court.The lawmakers argued Gambaryan is being held as part of a coercion tactic by the Nigerian government to extort Binance.Tigran Gambaryan has been held in Nigeria since February 26.Stakeholders warn that the continued detention of Binance executives in Nigeria could cause reputational damage for the country.Miller argued that the flagship crypto remains vastly undervalued and predicts a major shift in global capital governance.The report highlights significant gaps in law enforcement’s ability to track and recover illicit digital assets moved via privacy coins, layer-2 networks, and crypto mixers. DeFi Technologies recently adopted BItcoin as its primary treasury reserve asset.Japanese firm Metaplanet saw its stock surge 10% after its most recent Bitcoin acquisition.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
