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News Explorer — Chinese Crypto Mining Firms Turning to Ethiopia for Cheap Electricity

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Feb 12, 2:57 am
The Block

Chinese Crypto Mining Firms Turning to Ethiopia for Cheap Electricity

Chinese crypto mining companies are increasingly investing in Ethiopia for their mining operations due to the country's legalization of Bitcoin mining and cheap hydropower. Despite the ban on cryptocurrency trading, Chinese companies are taking advantage of Ethiopia's favorable conditions, such as cheap electricity and a temperate climate. However, the potential political instability in Ethiopia poses a risk for these investments.

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