Ethiopia Bitcoin mining

[Flightboi]

x.com

x.com

I didn't actually think it would actually be happening. I thought it was just more talk with zero action.

 

[Flightboi]

"Kal estimates, If the Ethiopian government were to allocate 2,000-megawatt energy solely to cryptocurrency mining activities, it could potentially generate annual revenues of $1.8 billion" surpassing earnings from key exports such as coffee, which amounted to a maximum of $1.1 billion annually."

If this statement is true and if they actually end up doing this they could theoretically remove the Ethiopian Military budget from taxes and onto crypto revenues.
https://addisstandard.com/from-shad...ally generate annual revenues of $1.8 billion

 

[Gemstone]

Kenya plans to build a nuclear reactor, Ethiopia built largest dam on the continent.

 

[World]

2000 megawatts is basically the entire GERD project, based on the average river flow throughout the year and dam height.

Handicapping your countries industrialization for crypto mining is stupid. Hydropower isn't free, the GERD cost like $4 billion to be built. To utilize 2000 megawatts would cost billions in hardware, not even including shipping, building the infrastructure, and maintenance. Plus the hardware would only last like 5 years, and would become less profitable every year as newer more efficient ASICs with better hash rate are manufactured.

It's only marginally profitable.