In 2024, Ethiopia became a leader in Bitcoin mining, generating $1 billion in profits through its access to cheap and renewable energy from the Grand Ethiopian Renaissance Dam (GERD). Despite only 35% of Ethiopians having bank accounts, digital money solutions, including cryptocurrency, are filling the void for the unbanked population. The success of Ethiopia's mining operation, which accounted for 18% of the country's annual national income, demonstrates that cryptocurrency can be used to finance infrastructure development without compromising environmental sustainability. Other African countries, such as the Democratic Republic of Congo, are also exploring clean mining operations to capitalize on renewable energy sources. This could potentially boost local economies and advance the ongoing fintech revolution in Africa.



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