* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, August 24, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    What Are Our Predictions for Taylor Swift’s ‘Life of a Showgirl’ Based on What She’s Told Us So Far? – yahoo.com

    Uncover the Hidden Surprises in Taylor Swift’s ‘Life of a Showgirl’ – Can You Decode Her Clues?

    Bama Dining Serving Up New Food, Entertainment – UA News Center

    Bama Dining Launches Thrilling New Food and Entertainment Experiences

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

    Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

    Teaching older adults how to use technology – WWNY

    Empowering Older Adults to Master Technology with Confidence

    Denver man receives pacemaker using new technology – CBS News

    Denver Man’s Life Transformed by Revolutionary Pacemaker Technology

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    What Are Our Predictions for Taylor Swift’s ‘Life of a Showgirl’ Based on What She’s Told Us So Far? – yahoo.com

    Uncover the Hidden Surprises in Taylor Swift’s ‘Life of a Showgirl’ – Can You Decode Her Clues?

    Bama Dining Serving Up New Food, Entertainment – UA News Center

    Bama Dining Launches Thrilling New Food and Entertainment Experiences

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

    Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

    Teaching older adults how to use technology – WWNY

    Empowering Older Adults to Master Technology with Confidence

    Denver man receives pacemaker using new technology – CBS News

    Denver Man’s Life Transformed by Revolutionary Pacemaker Technology

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    Morgan County Rescue Squad is using new technology to recover people missing in the water faster – WAFF

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

Ethiopia Emerges as Bitcoin Mining Haven for Chinese Miners

February 13, 2024
in General
Ethiopia Emerges as Bitcoin Mining Haven for Chinese Miners
Share on FacebookShare on Twitter

http://fullycrypto.com/

By Mark Hunter

13 hours agoTue Feb 13 2024 10:37:59

Ethiopia-Emerges-as-Bitcoin-Mining-Haven-for-Chinese-Miners

Reading Time: 2 minutes

Chinese crypto mining firms are shifting focus to Africa, especially Ethiopia, attracted by cheap hydroelectric power
Bloomberg reports that Chinese companies make up the vast majority of licensed operators
Ethiopia has to balance its new revenue stream with electricity access to its population

Chinese cryptocurrency mining companies are increasingly directing their attention towards Africa, particularly Ethiopia, due to the prevalence of cheap hydroelectricity. Bloomberg reported that Chinese firms, which have been seeking alternative investment destinations following China’s 2021 cryptocurrency ban, are now focusing on establishing mining operations within Ethiopia, which legalized Bitcoin mining in 2022. The growth of the industry could present a new line of revenue for the Ethiopian state.

19 Out of 21 Deals Are With Chinese Mining Companies

China’s government banned cryptocurrency mining, along with all other crypto activity, in 2021, which led to a mass exodus. Some relocated to Kazakhstan while Texas also became a haven for newer installations, but it seems that Ethiopia has become the new go-to country for Chinese miners: according to Bloomberg, the majority of the companies that have secured agreements with Ethiopia’s state-owned power utility are Chinese, totaling 19 out of 21.

These miners are attracted to the country due to its abundance of cheap hydroelectric power, which constitutes 92% of the country’s electricity supply, while Ethiopia’s moderate climate provides favorable conditions for mining operations, unlike regions such as Texas, where higher temperatures increase the costs associated with cooling mining machines.

Some miners have reportedly disguised their operations as other ventures, such as factories or agricultural projects, to gain access to electricity without official approval for Bitcoin mining from the government.

However, similar tactics employed in countries like Iran and Kazakhstan were met with shutdowns following government interventions. The potential for political instability in Ethiopia further underscores the risks associated with investing in the country’s mining sector, according to the report.

Ethiopia Presents Unique Opportunity

Despite these challenges, Ethiopia presents a unique opportunity for cryptocurrency mining firms amid global concerns regarding the environmental impact and energy consumption of the industry, valued at approximately $16 billion annually at current Bitcoin prices.

However, uncertainties persist over the new venture, with factors such as electricity shortages and political sensitivities posing significant risks to mining operations. Ethiopian officials are cautious about the controversy surrounding Bitcoin mining, given that nearly half of the population lacks access to electricity. Nonetheless, mining represents a potentially lucrative source of foreign exchange earnings for the country, which the country can ill-afford to turn down.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FullCrypto – https://fullycrypto.com/ethiopia-emerges-as-bitcoin-mining-haven-for-chinese-miners?utm_source=rss&utm_medium=rss&utm_campaign=ethiopia-emerges-as-bitcoin-mining-haven-for-chinese-miners

Previous Post

Solana “Chapter 2” Phone Crosses 100,000 Preorders

Next Post

Divisible NFT DN404 Standard Launches to Rival ERC-404

Lifeguard, 82, Sets Impressive Guinness World Record After More Than 60 Years Lifeguarding – People.com

82-Year-Old Lifeguard Breaks Guinness World Record After Over 60 Years on Duty

August 24, 2025
Powell’s Rate Cut Signal Reflects Economy’s Delicate Position – Hindustan Times

Powell’s Rate Cut Signal Reflects Economy’s Delicate Position – Hindustan Times

August 24, 2025
Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

August 24, 2025
Hamilton County school board rejects mental health center contract – Chattanooga Times Free Press

Hamilton County School Board Rejects Contract for New Mental Health Center

August 24, 2025
Stick to politics? How Donald Trump is using sports to advance his agenda – The Athletic – The New York Times

How Donald Trump Is Using Sports to Advance His Political Agenda

August 24, 2025
A Home at the End of the World – atmos.earth

Discover Your Sanctuary: A Home at the End of the World

August 23, 2025
CWI officially opens new Health and Science Building – Idaho Business Review

CWI Unveils Cutting-Edge Health and Science Facility Transforming Education

August 23, 2025
Scientists found the missing nutrients bees need — Colonies grew 15-fold – ScienceDaily

Breakthrough Discovery: Key Nutrients That Supercharge Bee Colonies by 15 Times

August 23, 2025
If boomers did these 7 things today, they’d be called “toxic” by millennials – VegOut

If boomers did these 7 things today, they’d be called “toxic” by millennials – VegOut

August 23, 2025
Why Technology Will Never Take Over Completely – Patheos

Why Technology Will Never Completely Control Our Lives

August 23, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (786)
  • Economy (807)
  • Entertainment (21,686)
  • General (16,635)
  • Health (9,847)
  • Lifestyle (819)
  • News (22,149)
  • People (808)
  • Politics (816)
  • Science (16,019)
  • Sports (21,305)
  • Technology (15,787)
  • World (788)

Recent News

Lifeguard, 82, Sets Impressive Guinness World Record After More Than 60 Years Lifeguarding – People.com

82-Year-Old Lifeguard Breaks Guinness World Record After Over 60 Years on Duty

August 24, 2025
Powell’s Rate Cut Signal Reflects Economy’s Delicate Position – Hindustan Times

Powell’s Rate Cut Signal Reflects Economy’s Delicate Position – Hindustan Times

August 24, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version