🚀 Bitcoin miners from China are now looking at Ethiopia as a strategic location thanks to cheap energy and a favorable climate. After being banned in China, they are looking for places with affordable electricity and friendly regulations.

🇪🇹 Ethiopia offers the world's lowest electricity costs and a government that is increasingly open to miners. Luxor Technology estimates Ethiopia to be one of the main destinations for sending Bitcoin mining equipment, with Chinese miners accounting for a large portion.

💡 Ethiopia has a power generation capacity of 5.3 gigawatts, mainly from renewable hydroelectric energy. Ethiopian Electric Power's (EEP) electricity rate is 3.14 US cents per kilowatt-hour, similar to Texas but more stable. Ethiopia's climate is also suitable for mining rig operational conditions.

🤝 Despite still banning crypto trading, Ethiopia is allowing Bitcoin mining in 2022. This decision is supported by increasingly close ties with China, which is heavily invested in a $4.8 billion dam project in Ethiopia.

🔍 However, there are risks and concerns about social impacts and fair distribution of resources, especially in a country where almost half the population does not yet have access to electricity.

Come on, share your opinions about Chinese Bitcoin miners switching to Ethiopia in the comments column! 😄