Marathon Digital Holdings (MARA), one of the largest Bitcoin miners in North America has revealed that it has been in communication with President William Ruto for a deal that will have them manage Kenya’s renewable energy production.
According to the billion-dollar company, Ruto’s goal is to ensure that Kenya depends on 100% renewable but stable energy through bitcoin mining as well as develop Kenya’s crypto regime.
In an interview with CoinDesk, a news outlet that highlights news on cryptocurrencies, blockchain and digital finance, Vice President of government affairs at MARA Jayson Browder, said that they would implement technology that would end nationwide blackouts.
He further stated that Marathon believes its technology can help solve this power management problem for Kenya, especially ensuring that the energy produced, and power supply is consistent and not affected by seasonality.
“We’ve been working closely with the Kenyan government on how to optimize and monetize renewable energy assets, the technology is modular,
“We can co-locate these really anywhere, and if they’re an intermittent source, like wind or solar, we’re able to turn off our machines when the grid needs it, so we can balance the grid” Jayson Browder said.
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Marathon Explain Plan to End Blackout After Discussion with Ruto
At the same time, the company highlighted that in 2022, more than 80 percent of Kenya’s electricity came from renewable sources and Ruto had explained his ambition to achieve complete reliance on renewable energy, aiming for 100 percent by 2030.
Kenya’s trajectory aligns closely with that of nations like Congo and Uganda, which predominantly rely on renewable energy sources, nearly reaching 100 percent, according to the International Renewable Energy Agency.
Therefore, Marathon explained that Kenya could experience challenges in the supply of power while depending on renewable sources, because the primary renewable power source is geothermal energy from the earth’s crust, wind and solar.
Though geothermal energy is constant and not impacted by seasonality, the other sources are seasonal.
“One of the main hurdles of renewable energy is that electricity is only produced when the sun is shining and the wind is blowing, causing consistency and storage problems for the user.
“To make the most efficient use of these forms of energy, the power either needs to be stored or wasted, creating a need for a power management system to balance the grid,” indicated Marathon.
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How Technology Will be Used
Marathon will therefore set up their bitcoin mining operations to act like a power management system for Kenya. This means that they will consume the excess energy generated from these renewable sources.
Also, miners can shut down their operations to reduce usage so that other customers can continue to get their power without interruption, which will balance the grid.
Since bitcoin mining operations can be very mobile, companies are able to set up sites wherever they are needed to help balance the power grid.
“The technology is modular, we can co-locate these really anywhere, and if they’re an intermittent source, like wind or solar, we’re able to turn off our machines when the grid needs it, so we can balance the grid.
“So, the technology we bring to bear can help to monetize and optimize some of these energy assets,” Browder added.
Last year, the company initiated a comparable project in Paraguay, entailing a bitcoin mining endeavor powered entirely by renewable energy sources.
This initiative allowed MARA to strategically position mining facilities near power sources generating surplus energy, enabling the company to capitalize on these resources.
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