Ethiopia has emerged as Africa's leading Bitcoin mining hub, capturing 2.5% of the global hash rate through renewable energy sources, according to recent data from December 2024. This remarkable achievement represents more than double the entire continent's mining output from the previous year.
The East African nation has attracted over $1 billion in mining infrastructure investments throughout 2024, following government approval of Bitcoin mining operations. The country's competitive electricity rates of 3.2 cents per kilowatt-hour, derived from green energy sources, have made it an attractive destination for global mining operations.
Ethiopia Electric Power (EEP) reports earning $55 million from electricity sales to Bitcoin mining operations in 2024, accounting for 18% of their total revenue. These funds have accelerated the development of transmission infrastructure connected to the Grand Ethiopian Renaissance Dam (GERD), which has a planned capacity exceeding 6 Gigawatts.
The GERD currently operates at 30% capacity, generating approximately 1,500 MW. With increasing interest in mining operations, EEP's revenue is projected to surpass $100 million in the coming year, supporting further expansion of rural electrification projects.
The success story extends beyond Ethiopia, as other African nations embrace Bitcoin mining as a tool for economic development. Kenya has partnered with MARA for mining initiatives, while companies like Gridless demonstrate innovative approaches to green Bitcoin mining using hydro and biomass energy sources.
In West Africa, Nigeria's Trojan Mining has reached the 1MW milestone, highlighting the continent's growing presence in the cryptocurrency mining sector. The Green Africa Mining Alliance continues to provide guidance and best practices for new mining operations across the region.
The combination of renewable energy resources, government support, and strategic partnerships positions Africa for continued growth in sustainable Bitcoin mining, while simultaneously addressing energy infrastructure challenges and rural electrification needs.