#BIT Mining Ethiopia Mining#

BIT Mining's mining operations in Ethiopia are booming, leveraging the country's low electricity costs to extend the lifespan of Bitcoin miners and generate substantial returns. Through a $14 million deal, BIT Mining acquired a 51-megawatt power facility and nearly 18,000 Bitcoin miners, which were previously decommissioned in the United States but have been given a second life in Ethiopia, extending their lifespan by approximately two years. Ethiopia's electricity costs are about 70% lower than in the US, enabling BIT Mining to operate at a lower cost, attract more investment, and enhance miner return rates. Ethiopia's abundant electricity resources, particularly from Chinese-funded hydropower projects, provide a unique advantage for BIT Mining. Currently, Ethiopia contributes 1.5% of the Bitcoin network's hashrate, comparable to Norway. Despite the country's social unrest, BIT Mining opted to purchase existing facilities rather than build new ones to mitigate risk. In the future, BIT Mining plans to explore further investment opportunities in Ethiopia, including energy infrastructure, artificial intelligence data centers, and more Bitcoin mining projects, capitalizing on the country's low-cost construction and resource advantages.