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Bitcoin Mining Company Marathon Digital Expands Its Activities: Here Are the Details
Crypto miner Marathon Digital is in talks with the Kenyan government regarding the country's cryptocurrency policy and energy requirements for crypto mining. Kenya is slowly regulating its crypto market. President William Ruto announced at the American Chamber of Commerce Kenya Business Summit that Marathon had been asked to consult with the National Treasury and the Ministry of Energy. The summit took place in late April but was not immediately informed about it.
Attendees included U.S. Secretary of Commerce Gina Raimondo, and Marathon was a platinum-level sponsor of the event. In his opening speech, Ruto said of the talks with Marathon: “This is a powerful testament to the vast transformative possibilities that exist in an expanded and comprehensive understanding of trade and investment between the United States and East Africa.”
Marathon is headquartered in the United States but has joint mining ventures in Abu Dhabi and Paraguay. If Marathon, one of the five largest crypto miners in the world, provides services in the East African country in line with the negotiations, it will not be the first crypto miner to operate in the country.
The Kenyan government has long had a negative attitude towards cryptocurrency. However, efforts to regulate the crypto space began to be addressed in November 2022, two months after Ruto took office. The International Monetary Fund made critical observations about lax crypto regulation in Africa in November 2022. Kenya ranked 11th in the world in crypto adoption that year.
