Marathon Digital to Expand in Africa
American mining company Marathon Digital has made global expansion a key part of its strategy and has expressed interest in entering the African market.
In November 2023, the Florida-based company began mining Bitcoin in Paraguay through a partnership with Penguin Infrastructure Holding to create a data center.
This marks the second international project for Marathon, following the launch of a joint mining center in Abu Dhabi with Zero Two. According to company vice president Charlie Schumacher, they are actively considering Africa as a potential market.
They believe that Bitcoin mining is not only a financial opportunity but also a technological solution for the energy sector. Africa’s energy sector presents a great opportunity to demonstrate this.
Bloomberg previously reported on the increasing number of Chinese miners heading to Ethiopia in search of favorable jurisdictions after the ban on crypto mining in China.
Ethiopia’s low electricity costs and favorable climate have made it an attractive destination for miners. Schumacher stated that some African countries are facing challenges due to low demand for electricity, resulting in underutilized power sources.