Stay updated with breaking news from Luxor Vera. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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.
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…
Beleaguered crypto lenders are being dealt another blow from bitcoin miners as they weather the aftermath of the FTX collapse.