coinculture.com
According to a report from Quartz Africa, KenGen (Kenya Electricity Generating Company PLC), the biggest provider of electricity in Kenya, intends to supply extra geothermal power to bitcoin mining firms.
“We have the space, and the power is near, which helps with stability,’” KenGen’s geothermal development director, Peketsa Mwangi, remarked.
Kenya is the biggest producer of geothermal energy in Africa, generating over 14,000 megawatts (MW) of electricity with an equipment capacity of 863 MW. In addition to the Rift Valley circuit, about 10,000 MW of geothermal energy lies dormant.
Kenya produces geothermal energy. Image: africa-me
Miners willing to use this offering have already contacted KenGen for further information and discussion about the offer. Some want to start with 20 MW and upscale later.
As there are no bitcoin mining enterprises in Africa, people interested in the offering are likely to be mainly from the U.S. or Europe.
Over 80% of KenGen’s generated electricity is sourced from renewable energy sources, including hydro and wind, besides geothermal usage. However, KenGen does not officially publish its extra power capacity.
KenGen further added that the firm intends to help reduce carbon emissions usually linked with mining bitcoin by delivering sustainable energy. However, the government of Kenya has adopted a radically different stance on bitcoin and digital money owing to its concern about fraud in the larger market.
Previously, the central bank of Kenya released a paper indicating its intention to explore a central bank digital currency (CBDC). However, the central bank remarked that the success of M-Pesa, a mobile banking service, Kenya’s experience in innovation might be placed at risk if they form a CBDC without sufficient justification.
The utility of technology does not lie in its novelty but in its potential to address an urgent social issue. The emergence of mobile money in Kenya has been a case in point, establishing the nation as a birthplace of innovation in Africa.