Ethiopia’s march toward being Africa’s block reward mining hub has been significantly boosted, with the country’s government signing a deal with a Hong Kong firm to inject $250 million into BTC mining. Initially, its social media post confirmed that it had signed the agreement with Data Center Service PLC, a subsidiary of West Data Group. Launched initially as a digital asset trading and blockchain financial services firm, the Hong Kong-based West Data Group ventured into BTC mining in 2021. Ethiopia has invested heavily in electricity production and offers some of the lowest rates globally, drawing block reward miners. Currently, the block reward miners are happy to find a home after unsuccessful stints in Kazakhstan, Russia, Iran, and a few other European countries.

Source: Ethiopian News February 21, 2024 16:35 UTC