{"id":139349,"date":"2024-10-11T15:00:05","date_gmt":"2024-10-11T12:00:05","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139349"},"modified":"2024-10-11T11:56:32","modified_gmt":"2024-10-11T08:56:32","slug":"ethiopia-emerges-as-a-promising-bitcoin-mining-hub-amid-challenges","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ethiopia-emerges-as-a-promising-bitcoin-mining-hub-amid-challenges\/","title":{"rendered":"Ethiopia Emerges as a Promising Bitcoin Mining Hub Amid Challenges"},"content":{"rendered":"<p>Currently, the country <strong><a href=\"https:\/\/x.com\/luxor\/status\/1843279803119751368?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1843279803119751368%7Ctwgr%5E3cac407336a867f10520625b58178e028b2f9982%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fbitcoinist.com%2Fethiopia-signs-on-600mw-of-energy-to-supercharge-bitcoin-mining%2F\" target=\"_blank\" rel=\"nofollow\">utilizes<\/a><\/strong> about 600 megawatts of electricity, positioning itself as a preferred destination for cryptocurrency miners in Africa.<\/p>\n<p>To promote this sector, the Ethiopian government has initiated significant partnerships, such as a $250 million agreement with West Data Group, aimed at enhancing digital infrastructure. This move is part of a broader strategy to leverage technology for economic advancement, particularly after China\u2019s recent crypto restrictions.<\/p>\n<p>With electricity prices around 3.14 cents per kilowatt-hour, Ethiopia is attractive for miners using equipment like Bitmain\u2019s S19J Pro, which is both cost-efficient and energy-saving. Additionally, the country\u2019s cooler climate reduces cooling expenses for mining operations.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/here-is-when-we-can-expect-bitcoin-etf-options\/\" title=\"Here is When We Can Expect Bitcoin ETF Options\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/03\/btc-3-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Here is When We Can Expect Bitcoin ETF Options<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The potential economic boost from <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong> mining is considerable, with projections estimating contributions of $2 billion to $4 billion. However, challenges remain, as nearly half of the population lacks reliable electricity. The government must find a way to balance the energy demands of miners with those of the general populace while navigating regulatory uncertainties.<\/p>\n<p>New legislation is in the works to clarify Bitcoin mining regulations, which could address some of the existing concerns. Yet, the risk of sudden regulatory changes still looms large.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethiopia is establishing itself as a key player in Bitcoin mining due to its extensive hydroelectric resources and low energy costs.<\/p>\n","protected":false},"author":9,"featured_media":23856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-139349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethiopia Emerges as a Promising Bitcoin Mining Hub Amid Challenges<\/title>\n<meta name=\"description\" content=\"Ethiopia is establishing itself as a key player in Bitcoin mining due to its extensive 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