#BIT Mining Ethiopia Mining#

BIT Mining's mining operations in Ethiopia are booming, driven by the country's low electricity costs and government support. Through a $14 million deal, BIT Mining acquired a 51-megawatt power facility and nearly 18,000 Bitcoin mining rigs, which were previously decommissioned in the United States but can continue to be used in Ethiopia's low-electricity-price environment, extending their lifespan by about two years. This model has created a positive feedback loop for BIT Mining, attracting more investment and increasing mining rig return rates. Ethiopia's abundant hydropower resources, especially from Chinese-funded projects like the Grand Ethiopian Renaissance Dam, provide a unique opportunity for BIT Mining. Currently, Ethiopia contributes 1.5% of the Bitcoin network's hashrate, comparable to Norway. Despite facing social unrest, BIT Mining chose to purchase existing facilities rather than build new ones to mitigate potential risks. In the future, BIT Mining plans to explore more investment opportunities in Ethiopia, including energy infrastructure, artificial intelligence data centers, and more Bitcoin mining projects, believing that the country has enormous potential due to its low-cost construction and resource advantages.