Date: 2025-04-29
Bitcoin mining firm Phoenix Group announced the addition of 52 megawatts (MW) worth of mining capacity to its capabilities in Ethiopia.According to an April 29 announcement, with this latest addition, Phoenix’s Bitcoin mining capacity in Ethiopia reaches 132 MW. The firm’s global capacity now reportedly exceeds 500 MW.Phoenix’s co-founder and CEO, Munaf Ali, said the firm’s strategy relies on “securing prime locations with abundant, low-cost energy.”“Initiatives like our latest expansion in Ethiopia are pivotal steps, not only creating significant value today but also solidifying our position,” he said.Related: Arkansas city rejects crypto mining proposal after community pushbackBuilding on previous agreementsThe news follows Phoenix Group ...
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