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Bitcoin Mining Powers Ethiopia’s $55M Surplus Energy Revenue: Report

The post Bitcoin Mining Powers Ethiopia’s $55M Surplus Energy Revenue: Report appeared on BitcoinEthereumNews.com. Ethiopia’s state utility generated $55 million from bitcoin mining using surplus hydropower, reinvesting profits to accelerate rural electrification projects. Ethiopian Electric Power earned $55 million over 10 months—18% of its annual revenue—by diverting otherwise wasted hydroelectricity to bitcoin mining operations, according to…

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bitcoinke.io

EDITORIAL | Is Bitcoin Mining Robbing the World’s Poor of Cheap Electricity?

As Bitcoin continues its global rise, the energy debate surrounding its mining operations is landing closer to home – and Ethiopia finds itself at the center of a growing controversy. In May 2024, Ethiopia quietly opened its doors to international Bitcoin miners, signing a deal with Hong Kong-based Data Center Service (HKDC). The agreement granted HKDC access to Ethiopia’s state-run power grid to mine Bitcoin, taking advantage of the country’s v…

20 days ago

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coinsurges.com

Bitcoin Mining Powers Ethiopia’s $55M Surplus Energy Revenue: Report - Coin Surges

Ethiopia’s state utility generated $55 million from bitcoin mining using surplus hydropower, reinvesting profits to accelerate rural electrification projects. Ethiopian Electric Power earned $55 million over 10 months—18% of its annual revenue—by diverting otherwise wasted hydroelectricity to bitcoin mining operations, according to an Ethiopian Tribune report. The revenue funds strategic infrastructure development, expanding transmission lines, …

21 days ago

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