The post Ethiopian Bitcoin mining gets 600MW boost as country signals support for industry appeared on BitcoinEthereumNews.com.

Ethiopia is emerging as a fast-growing Bitcoin mining hub, with local miners already consuming 600MW of power and more capacity expected to come online this year. Ethiopia’s Bitcoin (BTC) mining industry is gaining momentum, with crypto miners currently consuming 600MW of power, Ethan Vera, the co-founder and COO of Luxor Mining, said in an X thread, citing data from Ethiopian Electric Power. The country, which has approximately 5,200 MW of installed generation capacity, predominantly from hydropower, with wind and thermal sources making up the remainder, is expected to add several hundred more megawatts of capacity by the end of the year as part of its rapid expansion in the global mining market, Vera says. The Luxor Mining co-founder noted that most mining operations are using mid-generation machines such as Bitmain’s S19J Pro and Canaan’s A1346 models. These machines, typically more affordable and less power-hungry, benefit from Ethiopia’s low electricity costs, making it a “great place to use this class of machine,” Vera notes. “Most mining farms had evaporative cooling (water walls) set up, although its not needed for the majority of the year given the cold climate.” Ethan Vera Ethiopia’s strategic move into Bitcoin mining aligns with its broader push to develop infrastructure for data mining and artificial intelligence training. In February, Ethiopian Investment Holdings announced a preliminary agreement to support a $250 million project with Hong Kong-based West Data Group to enhance the country’s digital infrastructure. While the details of the deal remain unclear, the government has consistently referred to such initiatives as part of its high-performance computing strategy, which includes Bitcoin mining. China’s 2021 ban on crypto mining, combined with Ethiopia’s government-authorized push into the sector in 2022, has led to increasing interest from miners seeking new opportunities in regions with lower electricity costs. Despite progress in expanding…

---

Filed under: News - @ October 9, 2024 12:27 pm