Bitcoin

Ethiopia Permits 25 Cryptocurrency Traders to Establish Centers

Ethiopia Permits 25 Cryptocurrency Traders to Establish Centers

25 international cryptocurrency traders have recently established centers in Ethiopia, marking a significant stride in the country's endeavor to attract global institutions. This initiative, facilitated by the Ethiopian Investment Commission and other relevant bodies, underscores Ethiopia's growing openness to international investment and technological advancement. The Ethiopian Investment Commission has been instrumental in encouraging foreign participation in the country's burgeoning cryptocurrency sector. As part of this effort, 25 data mining companies have successfully registered with the commission and are currently finalizing power supply agreements with Ethiopian Electric Power, the national electricity provider. The Department of Marketing and Business Development at Ethiopian…
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Ethiopia Signs $250 Million Agreement for Cryptocurrency infrastructure

Ethiopia Signs $250 Million Agreement for Cryptocurrency infrastructure

Ethiopia signs $250 million agreement to construct crypto currency data mining center. The burgeoning demand for crypto currency trading has captured the attention of Ethiopia over the past five years. Despite the National Bank of Ethiopia's declaration two years ago, prohibiting crypto currency transactions under penalty of law, the interest in infrastructure development to facilitate Bitcoin transactions has surged. Presently, while Ethiopia prohibits crypto currency trading, the nation has inked agreements to construct data centers. Recently, West Data Center Plc. sealed a monumental $250 million deal with Ethiopia Investment Holding in Addis Ababa. This landmark agreement outlines plans for the…
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Russian BTC to Build Bitcoin Mining hub in Ethiopia

Russian BTC to Build Bitcoin Mining hub in Ethiopia

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…
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