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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

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  • Blockchain
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  • AI
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    UAE emirate launches new free zone for digital assets, Web3 and AI

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  • Guides
    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

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    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

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  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

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    Dogecoin Bull run

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    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
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    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

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    Volume Plunges While Transactions Soar

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    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

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    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

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    Boxed Memecoins as Collectible Toys

    Hype fades as NFT platforms lose users

    Hype fades as NFT platforms lose users

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

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    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

  • Gaming
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    GaFin Joins Efforts with Helium Wars to Redefine the Future of Web3 Gaming

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    Crypto games are struggling in 2025, but big brands aren’t giving up

    Taking Back Identity: How MocaChain Decentralizes Digital Power

    Taking Back Identity: How MocaChain Decentralizes Digital Power

    ‘League of Kingdoms’ Expands Into ‘Arena-Z’ as New Games and Tokens Emerge

    ‘League of Kingdoms’ Expands Into ‘Arena-Z’ as New Games and Tokens Emerge

    R-Games and LoveBit Unite to Power ESG-Driven Web3 Gaming

    R-Games and LoveBit Unite to Power ESG-Driven Web3 Gaming

    Elon Musk’s xAI Launches Waifu Companions for Grok

    Elon Musk’s xAI Launches Waifu Companions for Grok

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    Web3 Meets the Stadium: The Rise of Competitive Ownership

    Can Snoop Dogg’s Telegram Drop Revive a Slumping NFT Market?

    Can Snoop Dogg’s Telegram Drop Revive a Slumping NFT Market?

    ‘Off the Grid’ Token Hits Solana, More Games Shut Down

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  • Blockchain
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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What Is Liquid Staking? How It Works & Why It Matters in Crypto

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    What are Rollups in Crypto? ZK Rollups and Optimistic Rollups Explained

  • Analysis
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Home Mining

African crypto revolution continues as Ethiopia ranks among global BTC mining leaders

January 1, 2025
in Mining
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African crypto revolution continues as Ethiopia ranks among global BTC mining leaders
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2024 was a pivotal year for Ethiopia as it generated around $1 billion in BTC mining profits due to its access to cheap, reliable, and renewable energy sources.

READ ALSO

French lawmakers propose a crypto mining “experiment”

French lawmakers say country could generate $150M in annual revenue from Bitcoin mining

Africa is a region producing fintech unicorns that provide the highly unbanked (and equally highly “smartphonized”) population and merchants with payment solutions. Companies like TymeBank, Moniepoint, and Opay have made hundreds of millions of dollars by creating and maintaining payment mobile apps and ground touchpoints. In conditions where banks are absent—80% of Africans don’t have bank cards—digital money solutions are filling the void, and cryptocurrency is one of the factors shaping the modern-day financial reality of the continent.

You might also like: Chainalysis: Stablecoins represent 40% of crypto economy in Sub-Saharan Africa

Ethiopia entered the global BTC mining top

According to Intellinews, in 2023, only 35% of Ethiopians had bank accounts. However, this did not block the country from becoming one of the world’s leaders in Bitcoin mining. In 2024, Ethiopia became the first African country with a high-scale state-backed crypto mining operation. Its revenue is expected to reach up to $5.4 billion in 2027.

The backbone of Ethiopia’s success in the sector is the Grand Ethiopian Renaissance Dam, a gravity dam constructed on the Blue Nile River by 2024. The GERD is one of the 20 largest hydroelectric power plants in the world and the biggest one in Africa. It provides electricity to the entire country and produces enough for export to other nations.

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Bitcoin critics have often emphasized the excessive energy consumption of the network, noting that many mining operations are based in countries with cheap electricity that rely on dirty fossil fuels. Ethiopia, however, mines bitcoins using cheap and clean energy from the GERD. Interestingly, only half of the Ethiopian population has access to electricity. This means a significant portion of the spare energy can be invested in mining.

In 2024, Ethiopia generated $1 billion through Bitcoin mining. The profits made by mining help maintain the GERD infrastructure. According to Happy Coin News, the mining operation accounted for 18% of the country’s annual national income.

Bitcoin mining brings in 18% of Ethiopia’s revenue thanks to the country using its own GERD hydroelectric power station to mine cryptocurrencies. Read more: https://t.co/qkqiQLwciO

— Happy Coin News ☣️ (@happycoinnews) December 28, 2024

In October, Luxor Mining COO Ethan Vera named the key components of Ethiopia’s success in the sector. These include cheap electricity and the use of mid-generation mining devices that consume less power and cost less than newer machines. The main models used in Ethiopia, according to Vera, are Bitmain’s S19J Pro and A1346 by Canaan.

The Ethiopian blueprint

In 2024, Ethiopia contributed 2.25% of the global hash power in Bitcoin mining. According to Luxor Mining, Ethiopia is the next biggest hash power contributor after the USA, Hong Kong, and Asia.

The success of Ethiopia demonstrates that governments can use cryptocurrency to finance infrastructure development and lift local economies. Ethiopia emerged as a Bitcoin mining leader without compromising environmental sustainability. Notably, green mining requires easy access to clean energy while profits are reinvested in the dam’s development, representing a win-win scenario.

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While Ethiopia was building its mining powerhouse, other countries took note. The Democratic Republic of Congo, for example, is set to build its own clean mining operation in Virunga National Park. Meanwhile, smaller players in other countries are developing local grids to support grassroots mining operations. Initiatives like Gridless and Trojan Mining are also advancing eco-friendly Bitcoin mining efforts in Africa.

Ethiopia is paving the way for other African countries to capitalize on renewable energy sources to build Bitcoin mining operations. Similar efforts across the continent could inject vitality into local economies, amplify the ongoing fintech revolution, and open new opportunities for African nations.

You might also like: Strategic investment: VCs are missing out on Africa’s blockchain boom | Opinion

Tags: AfricanAmongBTCContinuesCryptoEthiopiaGlobalLeadersMiningRanksrevolution

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

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Tezos 2023 Outlook: An Overview of Tezos (XTZ)

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UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

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How to Earn Keys to Boost Your HMSTR Airdrop

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Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024

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Tap into the $7.5 Billion NFT Ecosystem

Tap into the $7.5 Billion NFT Ecosystem

November 29, 2023
Binance founder CZ says ‘no excuse for actions’ as he faces 3-year sentence

Binance founder CZ says ‘no excuse for actions’ as he faces 3-year sentence

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Ethereum accumulation booms as bullish sentiments persist: What’s next?

Ethereum accumulation booms as bullish sentiments persist: What’s next?

January 23, 2025
Ethereum and Solana – Here’s what 2024 will be like

Ethereum and Solana – Here’s what 2024 will be like

January 17, 2024

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