These containers house powerful computers, marking the arrival of Chinese Bitcoin miners in the region, as per a report by the South China Morning Post. The entry of Bitcoin miners into Ethiopia is not without risks. While Ethiopian officials remain cautious about the implications of crypto mining, the sector presents potential economic benefits, especially in terms of foreign exchange earnings. The influx of mining equipment into Ethiopia underscores the country’s growing importance in the crypto mining landscape, with Chinese miners dominating the scene. Despite these challenges, Ethiopian authorities have permitted crypto mining, primarily due to the revenue generated through foreign currency payments for electricity.

Source: Ethiopian News February 08, 2024 14:30 UTC