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THE MINING POD: Ethiopia’s Bitcoin Mining Boom
Oct 22, 2024
Ethan Vera, from Luxor Tech, and Cal Kassa, founder of BitcoinBrr, dive into Ethiopia's booming Bitcoin mining scene. They discuss the allure of the country's abundant hydroelectric power and its emerging tech talent. The guests explore the participation of Chinese miners and local investment opportunities, emphasizing the socio-political landscape's impact. With insights on the potential for economic development, they highlight challenges like energy competition and the importance of education in driving Bitcoin adoption across Ethiopia.
39:34
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Quick takeaways
- Ethiopia's significant hydroelectric resources, contributing 92% to its energy mix, position it for substantial growth in Bitcoin mining operations.
- The Ethiopian government's proactive support for Bitcoin mining aims to generate economic growth while addressing local energy distribution challenges and infrastructure development.
Deep dives
Ethiopia's Emerging Bitcoin Mining Scene
Ethiopia is becoming a notable player in the global Bitcoin mining market, contributing 600 megawatts to the hash rate with plans to expand significantly. The country has seen the emergence of multiple mining companies, heavily supported by investments from Chinese firms, which have established infrastructure and operations conducive to mining. The potential for growth is substantial, as Ethiopia's rich hydroelectric resources can enhance power availability for miners while addressing local energy challenges. Ongoing developments suggest that Ethiopia could rank as one of the top ten mining countries in the world soon.
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