Faced with increasingly strict regulations in China, Chinese Bitcoin miners are turning to Ethiopia, attracted by the lower cost of electricity. Ethiopia's new hydroelectric power stations offer an affordable and stable source of energy, making the country a prime destination for those seeking low-cost mining opportunities.
The intensification of Sino-Ethiopian relations, particularly around major projects such as the Blue Nile Dam, is creating opportunities in the Bitcoin mining sector. However, this raises questions about the use of electricity in a country where a significant proportion of the population remains without access to energy, raising the debate about the local implications of this digital gold rush.
Beyond the attraction of low energy costs, Ethiopia offers a favourable environment for cryptocurrency mining activities, despite a ban on trade in cryptocurrencies. The climate and a welcoming regulatory framework make it attractive to international miners, despite the existing political challenges.
The influx of Chinese miners highlights the disparities in access to electricity in Ethiopia, where more than half the population has no access to this cheap resource. Political instability also represents a risk for investment in Bitcoin mining, highlighting the paradoxes of this new development.
