Recounting Ethiopia’s Bitcoin Developments In 2024

Ethiopia’s state-owned power producer, and a population of 126 million Ethiopians, welcomed the bitcoin mining industry in 2024 with an attractive electricity r

Ethiopia’s state-owned power producer, and a population of 126 million Ethiopians, welcomed the bitcoin mining industry in 2024 with an attractive electricity rate of USD 3.2 cents KWh. In this past year EEP has generated USD 55 million in revenues from bitcoin miners and expects USD 123 million in the year to come.

As we look forward to 2025, let’s take time to recognize the efforts and events in Ethiopia from the year 2024. These highlights can serve as a blueprint for how other energy-potential rich nations, even those too small or timid to challenge historical assertions about money, can also join in this race for energy and add-value to the bitcoin network.

Ethiopia’s next objective, if it’s to be supported by the various market actors and individuals involved, will be to contribute 1 GW of energy into the Bitcoin network.

The future of Bitcoin mining in Ethiopia depends on how the Ethiopian government will treat the industry. Since the industry is sensitive to energy, government offices should focus on electricity production, distribution, stability, immutability of commercial contract terms, clear customs procedures, and transparent tax laws. As I work with brilliant bitcoiners around the world, I am optimistic we will reach these goals. Stay humble, stack sats and have a beautiful new year!