Ethiopia's Bitcoin mining industry has rapidly emerged, currently accounting for 2.5% of the global hash rate. According to the Ethiopian Electric Power (EEP), if the current trend continues, this proportion could double to 7% in the coming year. Currently, local mining operations have consumed 600 megawatts of electricity, which may increase to 1 gigawatt by the end of the year. Following China's ban on Bitcoin mining in 2021, many Chinese mining companies have relocated to Ethiopia, including firms such as BitFuFu and BIT Mining, supported by Bitmain, which have made significant investments locally. In just the past 10 months, the country has generated over $55 million in revenue through partnerships with 25 Bitcoin mining companies. (CryptoSlate)