According to Deep Tide TechFlow news, as reported by Forbes, by December 2024, Africa's share of the global Bitcoin mining hash rate will reach 3%, with Ethiopia alone accounting for 2.5%, more than double the entire continent's output in 2023, and completely relying on renewable energy.
Following Ethiopia's approval of Bitcoin mining earlier this year, the country has invested over $1 billion in mining infrastructure in 2024, attracting participation from several countries, including Kenya, eager to promote economic growth and community electrification through Bitcoin mining and manage green energy projects.
According to data from the Ethiopian Electric Power Corporation, this year Ethiopia earned over $55 million from electricity sales for Bitcoin mining, accounting for 18% of its total revenue. This income has accelerated the much-needed construction of transmission lines to help deliver electricity across the country. Bitcoin mining is becoming a suitable catalyst for providing electricity to the country.
