Ethiopia rises to global Bitcoin mining prominence, leveraging hydropower while government moves toward direct state participation.
Ethiopia is now the 8th largest Bitcoin miner globally, contributing about 2.7% of the total network hashrate. In 2024 alone, the country accounted for 2.5% of global mining power.
According to local miner Kal Kassa, 94 foreign direct investment companies operate data centers and crypto mining facilities, generating about $30 million monthly for Ethiopia Electric Power (EEP) — nearly 20% of its revenue. The electricity used comes largely from surplus hydropower, including energy from the Grand Ethiopian Renaissance Dam (GERD).
The government is deepening its involvement. Ethiopia Investment Holdings (EIH), under Prime Minister Abiy Ahmed, plans to own 20–30% of major mining facilities. In 2024, mining generated about $55 million for the government. However, EEP has paused new electricity permits, stating Bitcoin mining is a “transition” strategy, not permanent.
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