The Nanyang Technological University published on 28 February 2024 an article titled "Ethiopia Is a Frontier for Chinese Crypto."
Attracted by plentiful, inexpensive, renewable electricity and a favorable investment climate, over a dozen Chinese crypto mining firms have signed electric supply deals with the national Ethiopian electric utility. The primary operating cost of a cryptocurrency mining facility is the cost of electricity. Following construction of the Grand Ethiopian Renaissance Dam on the Blue Nile, Ethiopia is poised to become a new magnet for global mining.
