As of December 2024, Africa currently accounts for 3% of the global Bitcoin mining hash rate, with Ethiopia alone contributing 2.5% of the hash rate, more than twice the output of the entire African continent in 2023, achieved entirely through renewable energy mining.
According to data from the Ethiopian Electric Power Corporation (EEP), Ethiopia has earned over 55 million dollars from electricity sales for Bitcoin mining this year alone, accounting for 18% of its total revenue.
Following Ethiopia's approval of Bitcoin mining earlier this year, local mining operations have surged, with expenditures on mining infrastructure reportedly exceeding 1 billion dollars in 2024. Other countries, such as Kenya, have also joined the ranks of African nations eager to leverage Bitcoin mining to drive economic growth, provide electricity to communities, and manage green energy projects.
Africa is a hotspot for global Bitcoin miners due to its access to the world's cheapest green energy, with Ethiopia providing electricity at a rate of 3.2 cents per kilowatt hour. (Forbes)

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