Bitcoin mining set to power Ethiopia’s energy expansion
Ethiopia just inaugurated Africa’s largest dam, doubling power output — but still lacks the funds to deliver universal electricity access.
Ethiopia
Sub-Saharan Africa now the third-fastest-growing crypto region, Chainalysis
Nigeria led the region with $92.1 billion in value received over the 12-month period, nearly three times that of South Africa.
Ethiopia halts new crypto mining permits as power capacity reaches limit
This comes after the East African nation generated $55 million from Bitcoin mining over a 10-month period in 2024, primarily through agreements with 25 mining companies.
Ethiopia Earns $55 Million from Bitcoin Mining Deals in 10 months
The East African country wants to position itself as a global bitcoin mining hub with hundreds more megawatts of power to be made available for bitcoin miners in the country.
Power play: Bitcoin miners flock to Ethiopia for low-cost electricity
The East African country hopes to earn much-needed foreign exchange by providing electricity to these mining companies.
Ethiopia faces challenges as it integrates into BRICS
In December 2023, Ethiopia informed its bondholders that it would not be able to make a $33 million repayment on its $1 billion Eurobond loan.
Ethiopia gets $350 million World Bank financing for its digital ID project
$50 million comes as a grant from the World Bank’s International Development Association.