Summary
- The Ethiopian government announced it has decided to completely halt the issuance of new electricity supply permits for crypto mining companies due to insufficient power grid capacity.
- Currently in Ethiopia, 25 Bitcoin mining companies are operating, and around 20 more companies are awaiting permit approval.
- Because of the government's decision, uncertainty has increased for crypto mining companies seeking to enter the market.
Cryptocurrency (virtual asset) mining companies operating in Ethiopia have hit a roadblock.
According to Bitcoin.com on the 10th (local time), the Ethiopian government has decided to completely suspend the issuance of new power permits for crypto mining firms, citing a lack of power grid capacity.
Ethiopia offers affordable electricity rates and abundant hydroelectric resources, attracting many mining firms. Currently, 25 Bitcoin (BTC) mining companies are operating, and about 20 more are awaiting permit approval.
However, as the Ethiopian government is now declining to provide power to crypto mining firms, the power supply reviews for those 20 companies are expected to be put on hold.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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