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Last spring, cargo containers began appearing near electricity substations connected to the recently built Grand Ethiopian Renaissance Dam, Africa’s largest. Inside were stacks of powerful, energy-guzzling computers. It was a telltale sign that Chinese Bitcoin miners, having bounced from country to country in search of cheap power and benign regulations…
Ethiopia might seem like an unlikely place to set up crypto-mining operations, but cheap electricity and favorable regulations are attracting investors.
In January, Core Scientific, one of the largest publicly traded bitcoin miners in North America, announced that the U.S. Bankruptcy Court for the Southern District of Texas had approved the
The east African nation has emerged as a haven for Chinese bitcoin miners, who were forced out of their home country after Beijing imposed a crypto ban.
LAST spring, cargo containers began appearing near electricity substations connected to the recently built Grand Ethiopian Renaissance Dam, Africa’s largest. Inside were stacks of powerful, energy-guzzling computers. It was a telltale sign that Chinese Bitcoin miners, having bounced from country to country in search of cheap power and benign regulations…