🇨🇳 Chinese Bitcoin miners are turning to Ethiopia in search of cheap energy and suitable climate. 🌍

- Ethiopia presents a unique opportunity for Bitcoin miners, despite low electricity costs and growing global concerns about miners' energy consumption and environmental impact.

- Luxor Technology predicts Ethiopia to be one of the top destinations for Bitcoin mining equipment shipments.

- Ethiopia's installed energy capacity is 5.3 gigawatts, largely from renewable hydropower, making it an attractive location for miners seeking sustainability.

- Ethiopia allowed Bitcoin mining in 2022, although it continues to ban cryptocurrency trading. This decision was supported by the miners' growing ties with Chinese companies that contributed to the construction of the $4.8 billion Grand Ethiopian Renaissance Dam (GERD), from which they aim to draw energy.

- However, mindful of the balance between economic gains and social impacts, Ethiopian authorities are treading carefully due to the controversy surrounding Bitcoin mining.

Ethiopia is seen as a promising frontier for Chinese Bitcoin miners in their search for favorable operating conditions and low-cost energy.