Ethiopia Cuts Bitcoin Miners' Power as El Niño Hits Dams
While cryptocurrency trading is still illegal in Ethiopia, the Horn of Africa nation has welcomed Chinese Bitcoin miners lured by some of the world’s lowest electricity costs.
Ethiopia has reduced electricity supply to Chinese-operated Bitcoin mining farms as drought linked to El Niño lowers output from its hydropower dams, prioritising grid stability over mining demand. The move highlights the vulnerability of crypto mining operations that depend on cheap, climate-sensitive hydropower in African markets. It may also signal tighter scrutiny of an industry that operates in a regulatory grey area, given Ethiopia's ongoing ban on cryptocurrency trading.
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