Kenya Energy Company Offers Geothermal Power to Bitcoin Miners

KenGen, an energy production company in Kenya, has announced that it will be offering its surplus geothermal power to European and American Bitcoin mining companies.

The energy production company primarily operates on renewable energy. KenGen has reported that various Bitcoin mining companies have reached out, looking to purchase energy from its renewable sources.

In order to qualify and receive energy, KenGen has proposed a plan for companies to establish a location near Olkaria, Naivasha, which is where the main geothermal power station is located.

KenGen produces most of Kenya’s geothermal energy, accounting for most of 836 MW which is Kenya’s installed capacity. As a whole, it is estimated that Africa has approximately 10,000 MW in geothermal potential.

Peketsa Mwangi, the geothermal development director of KenGen, has shared that the exact amounts of requested energy from Bitcoin mining companies have varied across the board. Mwangi noted that in one example, a company made a request for “20 MW and upscale later.” KenGen has not disclosed the exact amount of this excess energy. This potential collaboration between KenGen and Bitcoin mining companies is an attempt at minimizing the carbon footprint.

In total, 80% of KenGen’s energy stems from renewable sources that are primarily geothermal, wind, and hydropower. 

Bitcoin and cryptocurrency mining companies have continued to face headwinds when it comes to sufficient supplies of energy. Pressure continues to mount as countries call for the use of more sustainable energy. For example, New York is the latest to pass legislation that will make mining Bitcoin more difficult. The bill puts an embargo on carbon-based fuel-powered mining equipment for the next two years.