Hydropower’s Golden Touch: Bitcoin Mines Light Up Ethiopia’s Rural Areas 🌟

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Oh, what a spectacle! The Ethiopian state utility has concocted a most ingenious scheme, generating a princely sum of $55 million from the whimsical world of bitcoin mining, all powered by the very water that flows through its lands! And what do they do with this newfound wealth? Why, they reinvest it into the noble cause of lighting up the darkened corners of the countryside, accelerating rural electrification projects as if by magic!

According to the Ethiopian Tribune, the Ethiopian Electric Power has been turning a tidy profit of $55 million over 10 months—no less than 18% of its annual revenue—by channeling surplus hydroelectricity into bitcoin mining operations. This windfall is not just a feather in their cap but a golden opportunity to fund strategic infrastructure development, expand transmission lines, and fortify distribution networks. All this, while addressing the yawning gap in rural electrification, where access stood at a mere 43% in 2021, leaving approximately 60 million citizens in the dark ages, so to speak.

The initiative, part of the National Electrification Programme’s grand vision of universal access by 2025, has attracted foreign investors like moths to a flame, with Chinese firms (80%), Russians, and Americans all vying for a piece of the pie. The Tribune notes that this bitcoin mining model is a veritable alchemy, transforming stranded renewable resources into cold, hard cash without the need for an extensive technological infrastructure. Who would have thought that the waters of Ethiopia could turn the wheels of fortune so splendidly? 🌊💰

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2025-08-04 08:57