Marathon Digital Holdings +5% - What's Going On?

Marathon Digital Holdings, Inc. MARA shares are trading higher on Friday in possible reaction to spot Ethereum ETF approval.

In addition, the company has entered into an agreement with the Ministry of Energy and Petroleum of the Republic of Kenya. 

With projected foreign investments expected to exceed $80 million, this venture is poised to deliver economic benefits to the Kenyan economy.

The deal will support the utilization of energy and optimize renewable energy projects across Kenya. 

The agreement was signed at the U.S. Chamber of Commerce by Marathon’s chairman and CEO, Fred Thiel, and Republic of Kenya Prime Cabinet Secretary, Hon. Musalia Mudavadi, E.G.H.

“It demonstrates the innovative approach that Kenya is taking to optimize their energy usage and to enhance their technological infrastructure,” said Thiel. 

Under the pact, the parties will exchange policy, scientific, and technical information, as well as project investment expertise, to better understand how to optimize renewable energy projects.

A Joint Steering Committee will be established, staffed by senior Ministry and Marathon officials, to ensure the development and implementation of these energy-related projects across the country. 

“We look forward to working closely with the Ministry of Energy and Petroleum, President William Ruto, and other Kenyan government leaders to drive progress through innovative and sustainable energy solutions,” added Thiel.

Price Action: MARA shares are trading higher by 4.77% to $21.02 at last check Friday.

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