Top Crypto Miner Marathon Digital Eyes Africa Expansion
The leading public crypto mining company in North America has integrated global expansion into its strategic vision.
Marathon Digital has recently extended its operations to the United Arab Emirates and Paraguay. Additionally, the company is now considering opportunities in Africa, a continent witnessing a growing presence of miners.
According to Charlie Schumacher, Marathon Digital’s vice president of corporate communications, Africa holds promise as a potential location for Bitcoin mining ventures. He sees Bitcoin mining as not only a technological solution for the energy sector but also as a means to leverage Africa’s abundant resources.
Recent reports indicate Ethiopia has become attractive to miners due to its favorable energy costs and climate. Chinese companies, for instance, have relocated to Ethiopia after facing regulatory hurdles in their home country.
Schumacher highlights the untapped power resources in certain African countries. By integrating Bitcoin mining with these resources, Marathon Digital aims to enhance their profitability while contributing to the region’s energy infrastructure.
In January, Marathon Digital increased its hash rate to 26.4 exahashes per second (EH/s), marking a 7% month-over-month growth. This expansion aligns with the company’s strategy to diversify geographically ahead of the upcoming Bitcoin halving event.
Marathon Digital’s recent ventures in the United Arab Emirates and Paraguay are part of this strategy. Through partnerships with FS Innovation and Penguin Infrastructure Holding, the company aims to establish a strong international presence.