Ethiopia becomes a new global Bitcoin hub thanks to cheap hydropower

 

Bitcoin mining in Ethiopia has become one of the most profitable in the world, with a production cost of only $20,000 per BTC, while the market price exceeds $100,000. Cheap hydropower — priced at $0.032 per kWh — has already generated over $220 million in revenue, which the government plans to reinvest in expanding the national grid.

Source CCN

As regulations tighten in the U.S. and China, more international mining companies are relocating their operations to Ethiopia, where affordable energy and government support are transforming the industry into a highly lucrative business.

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