On April 29, 2025, Phoenix Group introduced, in a press launch despatched to Bitcoin Journal, that it has added fifty-two megawatts of Bitcoin mining capability in Ethiopia, growing its whole within the nation to 1 hundred and thirty-two megawatts. With this growth, Phoenix Group now operates greater than 5 hundred megawatts globally. This closely strengthens their repute as one of many world’s prime ten Bitcoin miners, and offers them ample alternatives to remain a giant participant within the Bitcoin mining business. This enlargement follows an earlier eighty megawatts energy buy settlement that really began Phoenix Group’s entry into the Ethiopian market.
The brand new website in Ethiopia shall be inbuilt two phases. Section 1 will activate twenty megawatts of capability utilizing 5 thousand and 300 high-efficiency air-cooled mining items, with an output of 1.2 exahashes per second (EH/s). Section 2 is predicted to be accomplished by the tip of Q2 2025, and can add thirty-two megawatts utilizing hydro-cooling expertise, doubling the positioning’s hash charge to 2.4 EH/s.
“Phoenix Group has quickly turn out to be a number one power among the many prime ten international Bitcoin mining firms, a testomony to our strategic foresight in securing prime places with ample, low-cost vitality and our operational excellence pushed by vertical integration and cutting-edge expertise,” stated Munaf Ali, CEO and Co-Founding father of Phoenix Group. “The alternatives for future development are immense, and we’re dedicated to aggressively increasing our international footprint in key vitality markets.”
Importantly, over 90% of the vitality powering Phoenix’s Ethiopian operations comes from the Grand Ethiopian Renaissance Dam, one in all Africa’s largest sources of renewable hydropower. This positions the positioning as one of the crucial sustainable large-scale Bitcoin mining initiatives globally, in keeping with the discharge.
“With 100 and thirty-two megawatts of unpolluted hydropower now operational in Ethiopia, we’re proud to set a brand new normal for inexperienced mining in Africa,” added Reza Nedjatian, CEO of Phoenix Mining, AI & Knowledge Facilities.
The content published on Finance Insider Today is for informational and educational purposes only. It does not constitute financial advice, investment advice, or any other form of professional advice. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Finance Insider Today is not responsible for any financial losses resulting from decisions made based on information published on this website. Past performance is not indicative of future results. Financial markets carry significant risk. Never invest more than you can afford to lose.
