BIT Mining Expands Operations to Ethiopia
- BIT Mining signs a $14 million deal in Ethiopia.
- The company acquires facilities with 51 MW capacity and nearly 18,000 rigs.
- Ethiopia contributes 1.5% of Bitcoin’s total hashrate.
The $14 million investment by BIT Mining in Ethiopia highlights the strategic advantage of leveraging low electricity costs for extending the lifecycle of bitcoin mining rigs. This move not only enhances operational efficiency but also positions Ethiopia as a growing player in the global bitcoin mining landscape, contributing significantly to Bitcoin’s total hashrate.
