#BIT Mining Ethiopia Mining#

BIT Mining has made significant progress in its mining operations in Ethiopia, leveraging the country's low electricity costs to extend the lifespan of its Bitcoin mining rigs. Through a $14 million deal, BIT Mining acquired a 51-megawatt power facility and nearly 18,000 Bitcoin mining rigs that were previously decommissioned in the United States. However, in Ethiopia's low-electricity-price environment, these rigs can continue operating for another two years. Ethiopia's abundant electricity resources, particularly from Chinese-funded hydropower projects, and the government's support for Bitcoin mining have provided BIT Mining with a unique investment opportunity. Currently, Ethiopia contributes 1.5% of the Bitcoin network's hashrate, comparable to Norway. Despite Ethiopia's social unrest, BIT Mining opted to purchase existing facilities rather than build new ones to mitigate risk. 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. The company believes Ethiopia holds immense potential due to its low-cost construction and resource advantages.