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19 Jan 2026, 17:38
Ethiopia seeks partners to turn state-backed bitcoin mining into revenue
Ethiopia’s Prime Minister has announced that the government is actively seeking investment partners for Bitcoin mining. This move is part of the country’s “Digital Ethiopia 2030” plan, which seeks to develop the country’s financial sector and boost capital markets and digitalization. At the Finance Forward Ethiopia 2026 conference, Prime Minister Abiy Ahmed said that Ethiopian Investment Holdings, a state-owned company, is seeking experienced partners who can provide capital, technology, and mining expertise. By doing this, Ethiopia aims to earn revenue directly for the country rather than relying only on private companies. Ethiopian Electric Power generates $millions from Bitcoin mining Over the past few years, the country has quietly become Africa’s leading Bitcoin mining hub. Ethiopia has leveraged its massive Grand Ethiopian Renaissance Dam (GERD) and other hydropower projects for Bitcoin and crypto mining. The Grand Ethiopian Renaissance Dam generates over 6,000 megawatts, but the grid cannot absorb even half that amount. By mid-2025, the country had approximately 23 mining operations. They were initially led by Asian companies, followed by the Americans, and then locals getting in on the action. All collectively pulled around 600 megawatts at 3.2 cents per kWh. The country’s government actively promotes and licenses crypto mining. For instance, the UAE-based Phoenix Group announced a partnership with Ethiopian Electric Power (EEP), the nation’s state-owned utility, for a new mining data center. EEP currently operates 20 power stations with a combined capacity exceeding 7,900 megawatts. It does power exports to Kenya and Djibouti. It has seen growth as Kenya requested an additional 100 megawatts on top of the 200 megawatts it currently receives. In 2024, EEP exported nearly 7% of Ethiopia’s generated power, earning $338 million in foreign currency. It generated $55 million in Bitcoin mining revenue over 10 months that year, primarily through agreements with 25 mining companies. However, the country halted new crypto mining licenses for data mining companies last year, effectively halting the expansion of cryptocurrency mining. As reported by Cryptopolitan, the state claimed that the state-owned Ethiopian Electric Power (EEP) had reached its limit in meeting new demand. Foreign investors flood Africa to leverage on their power According to Cambridge, Africa accounts for approximately 3% of global BTC hash rate, nearly all hydro, geothermal, or solar with 2.5% is generated in Ethiopia. Overall, that’s expected to double by 2027, with Rwanda negotiating small modular reactors and Malawi completing new Shire River dams. In Kenya, Gridless Compute is a leader in Bitcoin mining. Established in 2022, the company has built hydro-electric mini-grids in Murang’a County, in a partnership with HydroBox, an African hydroelectric power company. These mini-grids use river water to generate electricity, powering Bitcoin mining operations. In Murang’a, Kenya, Gridless operates Bitcoin mining sites, lowering energy rates for 2,000 people in the area. The company says it has helped reduce the village’s electricity costs from $10 per month to $4. The project has garnered attention from the global crypto community. Block, the digital payments company run by former Twitter (X) CEO Jack Dorsey, and Stillmark, a Bitcoin-focused venture firm, led a $2 million startup investment into Gridless. The Democratic Republic of Congo also manages a modest program within Virunga National Park. Also, South African solar developers combine daytime solar panels with evening mining loads to secure bank financing that they would not be able to attain solely with residential consumers. Nigeria, on the other hand, conducts operations that recover waste methane from drilling platforms rather than releasing it into the atmosphere through combustion. However, African countries like Angola banned mining outright. Globally, other countries with government-sponsored Bitcoin mining include Russia, France, Bhutan, El Salvador, and the UAE. Japan became the 11th country to join the list. Japan has witnessed massive crypto adoption, with Metaplanet as the fourth-largest Bitcoin treasury. The smartest crypto minds already read our newsletter. Want in? Join them .
19 Jan 2026, 17:07
Bitcoin Hash Rate Slips Below 1 ZH/s as Miners Face Growing Profitability Pressure
Bitcoin (BTC) mining is facing renewed strain as the hash rate dropped below a crucial threshold not seen since late 2025. One expert believes that AI demand and manufacturer-led expansion are reshaping network participation. StandardHash CEO and founder Leon Lyu warned of a major change unfolding in the Bitcoin mining landscape after the network’s seven-day average hash rate fell below 1 ZH/s for the first time since September last year. Miners Retreat In a post on X, Lyu stated that the decline indicates mounting pressure on miner profitability, while a negative difficulty adjustment of approximately 4.34% is expected in roughly three days. He attributed the drop to several structural factors, including large mining firms reallocating power capacity away from Bitcoin mining toward artificial intelligence compute services in pursuit of higher margins. Lyu also highlighted the growing influence of mining hardware manufacturers, as he noted that Bitdeer is aggressively deploying its own proprietary rigs and is gearing up to become the largest North American miner by hash rate. Additionally, he said Bitmain appears to be expanding its own mining footprint through secondary channels and partnerships, even as the overall network hash rate trends lower. Lyu’s comments come at a time when the competition for energy has intensified between BTC miners and artificial intelligence data centers. In recent years, several publicly listed mining firms have disclosed plans to repurpose or co-locate mining infrastructure for high-performance computing and AI workloads. At the same time, grid operators and regulators in the US and Europe have flagged rising power demand from AI data centers, which often secure long-term electricity contracts. Industry reports have shown that AI facilities typically generate considerably higher revenue per megawatt than Bitcoin mining, which has increased pressure on miners during periods of low hashprice. This trend has accelerated power reallocation decisions across energy-constrained regions. BTC Mining’s Toughest Year These developments follow a difficult year for Bitcoin miners. In December, TheMinerMag observed that the BTC mining industry faced one of its toughest periods last year. The publication said miners were dealing with the “harshest” profit margins in the industry’s 15-year history. In 2025, even large, publicly listed companies struggled to cover costs. Mining revenue fell sharply as hashprice, which measures earnings from computing power, dropped from about $55 per unit to around $35. The report described this level as a long-term low rather than a short-term decline. The situation worsened after BTC’s price fell from its record high of nearly $126,000 in October, which put further pressure on already-strained mining operations. The post Bitcoin Hash Rate Slips Below 1 ZH/s as Miners Face Growing Profitability Pressure appeared first on CryptoPotato .
19 Jan 2026, 16:44
Crunch Opens Bittensor Decentralized AI Mining to Academic and Enterprise ML Scientists
19 Jan 2026, 15:51
How Bitcoin mining heat is being tested to warm Canadian greenhouses
Can Bitcoin mining heat grow food? A Manitoba pilot explores using crypto server heat to cut greenhouse energy costs and emissions.
19 Jan 2026, 12:49
Bitcoin hashrate drops 15% from October high as miner capitulation drags into almost 60 days
Bitcoin mining difficulty set for a 4% decline, the seventh negative adjustment in the past eight.
19 Jan 2026, 11:31
Bybit Launches Fiat-to-Crypto Frenzy for New Users With 97,200 USDT Reward Pool
BitcoinWorld Bybit Launches Fiat-to-Crypto Frenzy for New Users With 97,200 USDT Reward Pool DUBAI, UAE, Jan. 19, 2026 /PRNewswire/ — Bybit , the world’s second-largest cryptocurrency exchange by trading volume, has introduced a new user-exclusive campaign Fiat-to-Crypto Frenzy , offering participants the opportunity to earn rewards from a total pool of 97,200 USDT by completing a series of introductory tasks. The campaign highlights Bybit Fiat, a service designed to give users access to more than 300 cryptocurrencies using local fiat currencies. Through supported channels such as P2P Trading, Fiat Deposit and One-Click Buy, users can purchase major digital assets including USDT, BTC and ETH, as well as explore popular altcoins such as DOGE, LAYER and MNT. Bybit P2P is positioned as a fast and streamlined option for peer-to-peer crypto transactions. Fiat-to-Crypto Frenzy is available exclusively to new users who register and complete Identity Verification Level 1 during the event period, which runs from Jan. 12, 2026, at 10 a.m. UTC through April 15, 2026, at 11 p.m. UTC. Eligible participants can earn Lucky Draw tickets by completing a set of predefined deposit, payment and trading tasks available through the Bybit Rewards Hub. The tasks include depositing a minimum of 20 USDT via qualifying fiat or P2P channels, spending at least 25 USDT using Bybit Pay, and executing trades totaling 100 USDT across spot and derivatives markets. Each completed task grants Lucky Draw tickets, with each ticket representing one entry into a weekly draw for USDT rewards. Lucky Draw rewards are distributed on a first-come, first-served basis and may be fully allocated before the scheduled end of the campaign. Rewards are credited to eligible users’ Rewards Hub accounts within 14 working days after the event concludes and must be manually claimed. Disclaimer: Participation is subject to regional and regulatory restrictions. Users residing in the European Economic Area are not eligible to register for events or receive rewards, and participants from India, Vietnam and the Philippines are excluded from receiving rewards related to Bybit Pay tasks. Additional country and regional restrictions apply in accordance with Bybit policies. #Bybit / #CryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 80 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com . For more details about Bybit, please visit Bybit Press For media inquiries, please contact: [email protected] For updates, please follow: Bybit’s Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube This post Bybit Launches Fiat-to-Crypto Frenzy for New Users With 97,200 USDT Reward Pool first appeared on BitcoinWorld .
