CandleFocus Ethiopia’s Dam Powers 18% Revenue Through Bitcoin Mining
2024-12-26
Author: Content Editor
Ethiopia has utilized its hydroelectric power from the Grand Ethiopian Renaissance Dam (GERD) for Bitcoin mining, generating 18% of Ethiopian Electric Power’s income from mining activities. The country has attracted 25 BTC mining businesses, generating tens of millions in income and making use of its excess electricity. Ethiopia's affordable electricity tariffs make it an attractive location for miners, and this influx of foreign investment positions the country as a growing center for bitcoin activities. Additionally, other African countries such as Kenya, Zambia, and the Democratic Republic of the Congo are using Bitcoin mining to support renewable energy initiatives and environmental projects. The global trend of combining sustainable energy sources with crypto operations shows the potential for economic development. However, the development of ambitious projects in Ethiopia also raises concerns about the wider implications of Bitcoin mining on green energy policies.
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