【Hong Kong Media: Chinese Investors Flood into Ethiopia for Cryptocurrency Mining, Bitmain Involved】According to a report by Jinse Finance and Hong Kong's Ta Kung Pao, mainland virtual currency funds are setting their sights as far as Ethiopia in Africa, primarily due to the abundance of local hydroelectric resources, where electricity costs only two to three dimes per kilowatt-hour. In recent years, many Chinese companies have rushed to Ethiopia to establish mining operations, extracting Bitcoin, Ethereum, and Litecoin, among others. It is reported that Bitmain, which is engaged in the research and production of mining machines, has also participated in the Ethiopian mining operations. According to its official website, the first phase of Baohui is located in Ethiopia, with a total capacity of 150 megawatts. Currently, there are more than 20 mining sites in Ethiopia, the vast majority of which are invested and operated by Chinese enterprises, and most mining machines are also produced by Chinese companies, including Antminer and Avalon mining machines manufactured by Bitmain. Professionals estimate that Ethiopia has become a new emerging hub for mining, currently accounting for about 2.5% of the global Bitcoin network's computational power, and this is expected to continue to rise in the future.

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