#BIT Mining Ethiopia Mining#

BIT Mining's mining operations in Ethiopia have attracted widespread attention. The company acquired a 51-megawatt power facility and nearly 18,000 Bitcoin mining machines through a $14 million deal, leveraging Ethiopia's electricity costs, which are about 70% lower than in the US, to extend the lifespan of its aging mining equipment. This model has created a positive feedback loop for BIT Mining, attracting more investment and increasing mining machine returns. Ethiopia's abundant and cheap hydropower resources, along with the government's support for Bitcoin mining, have provided BIT Mining with a unique opportunity. Currently, Ethiopia contributes 1.5% of the Bitcoin network's hashrate, comparable to Norway. Despite social unrest, BIT Mining chose to purchase existing facilities rather than build new ones to mitigate potential risks. In the future, BIT Mining plans to explore more investment opportunities in Ethiopia, including energy infrastructure, artificial intelligence data centers, and more Bitcoin mining projects, believing that the country has immense potential due to its low-cost construction and resource advantages.