* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 11, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • 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
    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • 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
    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    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

Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

July 11, 2025
Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

July 11, 2025
International call for freedom for environmentalist Onur Yılmaz – ANF English

International call for freedom for environmentalist Onur Yılmaz – ANF English

July 11, 2025
This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

July 11, 2025
Science Museum of Minnesota cutting more than 40 full-time employees – CBS News

Science Museum of Minnesota to Cut More Than 40 Full-Time Jobs

July 11, 2025
Doctors say we’ve been misled about weight and health – ScienceDaily

Doctors Reveal the Truth About Weight and Health That You’ve Been Misled About

July 11, 2025
Sierra Club breaks record for world’s largest display of origami fish to protest Line 5 – News From The States

Sierra Club Creates Giant Origami Fish to Break World Record and Protest Line 5

July 11, 2025
Senate Democrat: Trump economy full of ‘uncertainty,’ ‘chaos’ – The Hill

Senate Democrat Warns of ‘Uncertainty’ and ‘Chaos’ in Trump Economy

July 11, 2025
Arts and entertainment events happening July 10th-13th across the Mid-Ohio Valley – WTAP

Unmissable Arts and Entertainment Events Happening July 10th-13th in the Mid-Ohio Valley

July 11, 2025
World’s Premier Cancer Institute Faces Crippling Cuts and Chaos – KFF Health News

World’s Leading Cancer Institute Grapples with Devastating Cuts and Turmoil

July 11, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
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 (715)
  • Economy (738)
  • Entertainment (21,626)
  • General (15,827)
  • Health (9,775)
  • Lifestyle (745)
  • News (22,149)
  • People (740)
  • Politics (748)
  • Science (15,956)
  • Sports (21,237)
  • Technology (15,724)
  • World (721)

Recent News

Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

July 11, 2025
Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

July 11, 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