Ethiopia’s Bitcoin Mining Boom Just Ran Into a Water Problem
Ethiopia has cut electricity deliveries to bitcoin miners by 75%, leaving them with just 23% of contracted power after El Niño reduced reservoir inflows by roughly 20%. The twist is that miners had become one of Ethiopian Electric Power’s biggest customers, consuming roughly a third of its electricity and supplying about 35% of revenue. Now […]
Key Takeaways
- Ethiopia has cut electricity deliveries to bitcoin miners by 75%, leaving them with just 23% of contracted power after El Niño reduced reservoir inflows by roughly 20%.
- The twist is that miners had become one of Ethiopian Electric Power’s biggest customers, consuming roughly a third of its electricity and supplying about 35% of revenue.
- Read the full article for additional context and details.
Summary generated by IndiCrypto from News.Bitcoin.com. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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