Ethiopia's Bitcoin Mining Surges as Phoenix Group Adds 52MW
Ethiopia has emerged as a significant player in the global Bitcoin mining scene, currently accounting for 2.25% of the global hash rate. This growth is largely attributed to the expansion of Phoenix Group PLC, which has recently acquired an additional 52 megawatts (MW) of mining capacity in the country.
Phoenix Group's expansion in Ethiopia is powered by clean hydropower, setting a new benchmark for sustainable Bitcoin mining in Africa. The company entered the Ethiopian market in 2025 with an 80MW power purchase agreement (PPA).
The newly acquired 52MW site will be developed in two phases. Phase 1, which is currently underway, will provide 20MW of capacity. It deploys 5,300 high-efficiency air-cooled Bitcoin mining units, with an expected output of 1.2 EH/s. This phase is being carried out in collaboration with the German Bitcoin mining company, Bit Mining.
Phase 2 of the 52MW site is scheduled for completion by the end of Q2 2025. This phase will contribute an additional 32MW, utilising hydro-cooling technology. Once fully operational, the site's total hash rate is expected to double to approximately 2.4 EH/s.
With this expansion, Phoenix Group's total operational Bitcoin mining capacity in Ethiopia has reached 132MW. The company's global Bitcoin mining capacity has surpassed 500MW across five countries, solidifying its position as a major player in the global Bitcoin mining industry.
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