According to Deep Tide TechFlow, as reported by Forbes, by December 2024, Africa's share of the global Bitcoin mining hash rate reached 3%, with Ethiopia alone contributing 2.5%, more than double the entire African continent's output in 2023, and relying entirely on renewable energy.
Following Ethiopia's approval of Bitcoin mining earlier this year, the country is investing 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 Company, Ethiopia earned over $55 million from electricity sales for Bitcoin mining this year, accounting for 18% of its total revenue. This income accelerated the much-needed construction of power transmission lines to help deliver electricity nationwide. Bitcoin mining is becoming a suitable catalyst for providing electricity to the country.

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