Thursday, February 6, 2025
HomeBusinessEthiopia Expands Bitcoin Mining Capacity with 600 MW Power Allocation

Ethiopia Expands Bitcoin Mining Capacity with 600 MW Power Allocation

Must read

Pooja Chauhan
Pooja Chauhan
Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

Ethiopia boosts its electricity allocation for Bitcoin mining to 600 MW, becoming one of the fastest-growing markets. Plans are underway to further expand capacity by year-end.

Bollywoodfever: Ethiopia has rapidly increased its electricity allocation to Bitcoin mining, now providing 600 megawatts (MW) for the activity, making the country one of the fastest-growing markets globally. The expansion is set to continue, with plans to add a few hundred more megawatts by the end of the year, according to Ethan Vera, co-founder and CEO of Bitcoin miner Luxor.

Vera, who visited Ethiopia’s mining farms, noted the use of mid-generation mining machines such as the S19J Pro and A1346 models, which are favored for their low power consumption. Many farms also employ evaporative cooling systems, though they are not needed year-round due to Ethiopia’s cooler climate.

Ethiopia Expands Bitcoin Mining Capacity with 600 MW Power Allocation
Bitcoin Mining

This significant growth in Bitcoin mining follows Ethiopia’s signing of power supply agreements with 21 primarily Chinese mining companies earlier this year. These agreements, along with the commissioning of the Grand Ethiopian Renaissance Dam, are expected to help Ethiopia tap into its surplus electricity, which currently goes underutilized due to limited infrastructure.

According to reports, Ethiopia only uses about 5% of the 4.9 gigawatts of hydroelectric power it has generated since 2021, as only 51% of the population has access to electricity. Experts believe that Bitcoin mining could help Ethiopia generate the capital needed to expand its power distribution infrastructure, provided that regulatory hurdles are addressed.


Also Read other news articles, CBN Injects $543.5 Million Into Nigerian Forex Market Amid Ongoing Currency Volatility

China Reaffirms Commitment to Strengthening Ties with Russia on 75th Anniversary of Diplomatic Relations

HBO’s ‘Money Electric’ Documentary Suggests Peter Todd as Bitcoin’s Creator, Satoshi Nakamoto

Gold Prices Steady Ahead of Federal Reserve Meeting Minutes

Chinese Stocks Plummet in U.S. Amid Lack of Fresh Stimulus, Tech Giants and EV Makers Take a Hit

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article