Ethiopia’s Bitcoin Mining Boom Just Ran Into a Water Problem
Ethiopia has cut electricity deliveries to bitcoin miners by 75%, leaving them with just 23% of contracted power after El Niño reduced reservoir inflows by roughly 20%. The twist is…
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Phoenix Group Activates 30MW Hydropower-Backed Crypto Mining Facility in Ethiopia
Phoenix Group recently activated a 30 MW hydropower-backed crypto mining facility in Addis Ababa, Ethiopia, in partnership with Ethiopian Electric Power (EEP). Aggressive African Expansion The Abu Dhabi cryptocurrency mining…
Ethiopia Freezes New Power Permits for Crypto Miners Amid Grid Constraints
Ethiopia is halting new electric power permits for data mining companies, effectively freezing the expansion of crypto-mining operations due to limited capacity. The decision follows a surge in interest, with…
Bitcoin Mining Powers Ethiopia’s $55M Surplus Energy Revenue: Report
Ethiopia’s state utility generated $55 million from bitcoin mining using surplus hydropower, reinvesting profits to accelerate rural electrification projects. Ethiopian Electric Power earned $55 million over 10 months—18% of its…
Phoenix Group Boosts Ethiopia Bitcoin Mining Capacity to 132 MW
Phoenix Group has expanded its Bitcoin mining operations in Ethiopia, securing an additional 52 megawatts, bringing its total capacity there to 132 megawatts and surpassing 500 megawatts globally across five…
Ethiopia Signals Potential Shift on Cryptocurrency Stance
The governor of the National Bank of Ethiopia (NBE) has indicated that the bank may issue guidelines for the use of cryptocurrency in the country, suggesting a potential shift in…
UAE and Chinese Investment Firms Partner on Ethiopian Energy Infrastructure Project
Hodler Investments and GCL Energy Investment have partnered to develop a distributed energy infrastructure project in Ethiopia to power next-generation data centers. Boosting Ethiopia’s Data Center Market The United Arab…
Bitfufu Expands to Africa: Acquires 80MW Bitcoin Mining Facility in Ethiopia
Nasdaq-listed cloud mining services company Bitfufu has announced an agreement to acquire a majority stake in an 80-megawatt (MW) Bitcoin mining facility in Ethiopia. This strategic move marks a significant…
Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade
Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands,…
BRICS to Discuss Alternative Payment Platforms at Upcoming Summit
Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian…