Ethiopia Embarks on $250 Million Bitcoin Mining and AI Tech Venture

Ethiopia Embarks on $250 Million Bitcoin Mining and AI Tech Venture

Ethiopia is set to revolutionize its technological and economic landscape with a $250 million investment in a Bitcoin mining and AI data center, spearheaded by the Russian bitcoin mining company, BitCluster. This venture, dubbed Project Mano, marks a significant leap towards incorporating blockchain and artificial intelligence technologies into Ethiopia’s economy, utilizing the nation’s abundant renewable energy resources.

The project plans include the construction of a cutting-edge 120-megawatt, 30,000-square-meter facility near the Kilinto high-voltage substation in Addis Ababa. By capitalizing on renewable energy, primarily from the Grand Ethiopian Renaissance Dam, the initiative promises a sustainable and environmentally-friendly approach to the energy-demanding process of bitcoin mining.

With the capacity to support over 34,000 Antminer S21 200Th miners, this venture is expected to contribute approximately 1.2% to the total bitcoin network hash rate, emphasizing the shift towards renewable energy in the global bitcoin mining landscape and diversifying mining operations geographically.

Project Mano aligns with Ethiopia’s broader vision of becoming a center for technological innovation and sustainable development. By leveraging its renewable energy potential, Ethiopia aims to draw international investment and attention to its tech sector, fostering job creation, economic growth, and technological advancement.

The selection of Ethiopia for this significant investment mirrors a broader trend among bitcoin miners seeking locations that offer sustainable energy solutions and a favorable regulatory framework. This initiative not only underscores Ethiopia’s commitment to clean energy but also positions it as an attractive destination for future tech investments.

The integration of bitcoin mining into Ethiopia’s economy through Project Mano could potentially inject $2 to $4 billion annually into the GDP, significantly bolstering the nation’s economic standing, enhancing its tech infrastructure, and establishing it as a frontrunner in the clean energy future of bitcoin mining.

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