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

#BTC