According to Wu, Ethiopia uses the Grand Renaissance Dam to promote Bitcoin mining, and related income accounts for 18% of the Ethiopian Electric Power Company's revenue.
In the past year, investment in mining reached $1 billion, exceeding profits from electricity exports. The government has partnered with 25 mining companies to attract international miners to use the low electricity price of about 3.2 cents per kilowatt-hour to absorb excess electricity.
The combination of renewable energy and crypto mining is driving energy use and policy changes in Africa.
