The Russian bitcoin company, BitCluster (BTC), has officially announced plans to establish a Bitcoin mining data center in Addis Ababa, Ethiopia.
As reported by Russia Today, BTC has designated January 2024 for the launch of its mining center African headquarters in the Ethiopian capital.
The forthcoming Bitcoin mining center, spanning an impressive 30 thousand square meters, is set to commence construction in January.
An interesting facet of this initiative is that the center’s power supply will be exclusively derived from the Grand Ethiopia Renaissance Dam (GERD).
Once operational, this mining center is poised to position Ethiopia as one of the countries actively engaged in Bitcoin trading.
The establishment of this cryptocurrency center is a strategic response to the surging global demand for Bitcoin. BTC has emphasized that the Renaissance Dam, boasting the largest power generation capacity in Africa, will provide a continuous and reliable power source for the Bitcoin mining operations.
Given the worldwide preference for Bitcoin among various digital currencies, the decision to open this center in Addis Ababa is seen as a significant move to bolster Ethiopia’s revenue streams.
BTC’s expansion into Africa is anticipated not only to enhance its global partnerships but also to contribute to an upswing in its share price.
It’s noteworthy that just a year ago, the National Bank of Ethiopia imposed a ban on cryptocurrencies in response to the increasing demand for digital currencies.
The bank asserted that digital currencies were unauthorized and illegal, signaling the need for further regulatory frameworks to govern these transactions.
Bitcoin, introduced in the fall of 2009 by the purported Japanese creator Sotashi Nakamoto, has garnered global attention.
While its value has experienced fluctuations over the years, the cryptocurrency has faced particular challenges, recording a low value in the past two years.
However, recent economic issues, such as inflation and the impact of the COVID-19 pandemic and the war in Ukraine, are cited as factors contributing to a resurgence in Bitcoin prices.
As the world grapples with these challenges, the cryptocurrency market, including Bitcoin, appears to be experiencing renewed interest and growth.
The US-based Roxio data center opened the second data center in Addis Ababa, Ethiopia and it’s in Africa next to Uganda.
Raxio Group, an independent data center in Africa, has launched its second data center in Ethiopia with an investment of $30 million.
A month before, the company has opened its data center in ICT Park in Addis Ababa and making the data flow completely domestic, will help to reduce the expenses of the users of the service for the Internet.
The new level III data center opened in Ethiopia has 800 racks and up to 3MW of IT power.
