Chinese Bitcoin Miners Opt For Ethiopia’s Cheap Energy
Ethiopia is attracting Chinese Bitcoin miners due to its competitive electricity costs and favorable climate.
The country’s abundant hydropower resources and competitive electricity rates from Ethiopian Electric Power (EEP) make it an attractive location for miners seeking sustainability.
Ethiopia’s temperate climate aligns with optimal operating conditions for mining rigs. In 2022, Ethiopia permitted Bitcoin mining, reinforced by growing ties with China.
Chinese firms contributed to constructing the $4.8 billion GERD, which miners intend to draw power from. Despite controversies surrounding Bitcoin mining, Chinese Bitcoin miners still see Ethiopia as a promising frontier for inexpensive energy and favorable operating conditions.
(With inputs from Shikha Singh)
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