Ethiopia Earns $55 Million from Bitcoin Mining Deals in 10 months
The East African country wants to position itself as a global bitcoin mining hub with hundreds more megawatts of power to be made available for bitcoin miners in the country.
Ethiopia
Power play: Bitcoin miners flock to Ethiopia for low-cost electricity
The East African country hopes to earn much-needed foreign exchange by providing electricity to these mining companies.
Ethiopia faces challenges as it integrates into BRICS
In December 2023, Ethiopia informed its bondholders that it would not be able to make a $33 million repayment on its $1 billion Eurobond loan.
Ethiopia gets $350 million World Bank financing for its digital ID project
$50 million comes as a grant from the World Bank’s International Development Association.
Ethiopia set to make an “unnecessary and unfortunate” default on Eurobond repayment
The country’s finance ministry is looking to restructure its Eurobond following recent success with restructuring the terms of its bilateral debt.
Nigeria received nearly $60 billion in crypto value in a year
Overall, Sub-Saharan Africa received $117.1 billion in crypto value between July 2022 and June 2023, according to data from blockchain analytics firm Chainalysis.
Africa plays a crucial role in the success of crypto: Web3 expert
Yoseph Ayele believes that global blockchain communities need to collaborate with Africans to foster growth and development.