Posted 2/13/2024, 2:01:09 PM
Ethiopia Partners with China to Become Leading Bitcoin Mining Destination, Challenging Texas' Dominance
- Ethiopia signed Bitcoin mining deals with China, allowing 19 Chinese miners to operate in the country
- Ethiopia offers affordable hydropower electricity to attract foreign investment and Bitcoin miners
- This makes Ethiopia a leading destination for Bitcoin mining, with China taking advantage as a BRICS member
- Half of the world's Bitcoin mining currently takes place in Texas, U.S., consuming a large amount of electricity
- BRICS expansion into Bitcoin mining, spearheaded by China-Ethiopia deals, could directly compete with Texas