Phoenix Group has expanded its bitcoin mining capacity in Ethiopia by 52 MW, reaching 132 MW in the country and exceeding 500 MW globally, utilizing mostly renewable hydropower.
#Phoenix Group, one of the leaders in bitcoin mining, announced a major expansion of its capacity in Ethiopia, adding 52 megawatts to its existing infrastructure. The total capacity of the company's mining facilities in the country has now reached 132 MW. This expansion is part of Phoenix Group's global strategy to strengthen its position in markets with affordable and sustainable energy, and the company's total capacity worldwide has surpassed 500 MW.
The new expansion in #Ethiopia is being realized in two phases: the first phase includes the start-up of 20 MW to power 5,300 air-cooled miners, providing a hash rate of 1.2 EH/s, while the second phase will add 32 MW using hydro-cooling, doubling the hash rate already to 2.4 EH/s by the end of the second quarter of 2025. About 90% of the electricity for these operations comes from renewable sources, mainly from the Great Ethiopian Renaissance Dam (GERD), underscoring the company's commitment to sustainable mining.
Ethiopia is emerging as a key region for Phoenix Group, accounting for approximately 26% of its global capacity. The country was chosen due to its low energy costs and favorable government energy policies. However, experts note that further expansion could face challenges related to the local energy infrastructure and the need to balance industrial consumption with the needs of the population. Nevertheless, Phoenix Group continues to strengthen its position with plans for further growth in Africa and South America, including new projects in #Brazil.
