News with the tag "Ethiopia"

Landlocked between six different neighbors in the Horn of Africa, Ethiopia has approximately 120 million inhabitants, making it the second most populous nation on the continent, and a GDP of $163 billion, which puts it in the same economic league as Ukraine, Morocco, Slovakia or Kuwait. However, the...

Ethiopia’s state-owned power producer, and a population of 126 million Ethiopians, welcomed the bitcoin mining industry in 2024 with an attractive electricity rate of USD 3.2 cents KWh. In this past year EEP has generated USD 55 million in revenues from bitcoin miners and expects USD 123 million in ...

Ethiopia Earns $1 Billion from Bitcoin Mining with Hydropower in 2024 Ethiopia has emerged as a surprising player in the cryptocurrency space, earning $1 billion in Bitcoin mining revenue in 2024. This achievement was made possible by harnessing excess electricity generated by the Grand Renaissance ...

The governor of the National Bank of Ethiopia (NBE) has indicated that the bank may issue guidelines for the use of cryptocurrency in the country, suggesting a potential shift in the country’s stance on digital currencies. While cryptocurrency is currently illegal in Ethiopia, the NBE is closely mon...

BIT Mining attributed its widened profit margins from DOGE and LTC to specialized LD3 mining machines it acquired from Bee Computing in 2021.

Hodler Investments and GCL Energy Investment have partnered to develop a distributed energy infrastructure project in Ethiopia to power next-generation data centers. Boosting Ethiopia’s Data Center Market The United Arab Emirates (UAE) investment firm Hodler Investments has partnered with GCL Energy...

Nasdaq-listed cloud mining services company Bitfufu has announced an agreement to acquire a majority stake in an 80-megawatt (MW) Bitcoin mining facility in Ethiopia. This strategic move marks a significant shift for the company as it transitions from an asset-light strategy to managing a diverse po...

BitFuFu is no longer exclusively a cloud miner as it transitions to a more resilient portfolio.

BitFuFu acquires an 80MW Bitcoin mining facility in Ethiopia, cutting electricity costs to $0.04/kWh. This marks a critical expansion in BitFuFu Ethiopia Bitcoin Mining operations.

Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to ad...