Addis Ababa, Ethiopia, is buzzing with energy as the Africa Bitcoin Mining Summit kicked off on October 3, 2024.

This exclusive event has drawn Bitcoin miners, manufacturers, and energy experts from across Africa and beyond, reflecting the country’s growing prominence in the cryptocurrency mining landscape. Industry leaders like Gridless and Luxor Technologies are present, with Luxor highlighting Ethiopia’s leadership in Bitcoin hashrate, utilizing 600 megawatts (MW) of power for mining operations.

https://twitter.com/gridlesscompute/status/1842105325127618754

The summit offers a platform for African miners from countries like Nigeria, Malawi, and Zambia to exchange insights, alongside large-scale Chinese miners who continue to dominate the sector. Additionally, manufacturers such as Whatsminer are showcasing advancements in mining technology, crucial for maintaining efficiency in the face of rising demand​.

Ethiopia’s strategic push into Bitcoin mining stems from its abundant renewable energy resources, particularly hydroelectric power. With low energy costs—reported at approximately 3.14 cents per kilowatt-hour—Ethiopia has attracted international miners seeking affordable alternatives to regions like China, which has implemented strict regulations on crypto mining.

As the government continues to support digital infrastructure development, such as a recent $250 million partnership aimed at enhancing data mining capabilities, Ethiopia is poised to be a key player in the global Bitcoin market.

While challenges remain, particularly around balancing mining activity with public energy needs, the summit is a clear signal that Ethiopia is embracing its role as a leader in the African crypto mining revolution​.

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