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Etiopia is emerging as an innovative example of using renewable energy to support bitcoin mining.  Thanks to the Grand Renaissance Dam, the country is harnessing its abundant hydroelectric power to fuel Bitcoin mining, a sector that now represents 18% of the national revenue generated by digital assets.  This initiative not only leverages a sustainable resource, but also contributes to promoting economic growth and financing key projects. The role of the Grand Renaissance Dam in Bitcoin mining in Ethiopia The Grand Renaissance Dam, one of the largest hydroelectric infrastructures in Africa, is at the center of Ethiopia’s strategy for the mining of Bitcoin.  Thanks to its ability to generate clean and low-cost energy, this dam allows the country to compete in the notoriously energy-intensive global mining market.  Hydroelectric energy not only guarantees a low environmental impact, but also reduces operational costs, making Bitcoin mining one of the most profitable activities for Ethiopia. In Africa, Bitcoin mining is finding a new direction thanks to the use of renewable energies. Ethiopia is not the only country exploring this path: similar initiatives have been launched in Virunga National Park in the Democratic Republic of the Congo.  Here, Bitcoin mining is powered by hydroelectric plants and contributes to funding environmental conservation projects, demonstrating how blockchain technology can integrate with sustainable development goals. Economic and environmental benefits The approach of Ethiopia to Bitcoin mining presents multiple advantages. From an economic perspective, the country is diversifying its revenue, reducing dependence on traditional sectors such as agriculture. Additionally, the use of hydroelectric power significantly reduces the environmental impact compared to traditional mining powered by fossil fuels. This model is particularly relevant in a global context where the energy consumption of Bitcoin mining is often criticized for its environmental impact. Ethiopia demonstrates that it is possible to combine technological…

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Filed under: News - @ December 27, 2024 5:22 pm