Ethiopia Seeks Partner for State-Backed Bitcoin Mining
- Ethiopia’s Prime Minister Abiy Ahmed announced the search for an investment partner to develop state-backed Bitcoin BTC -1.80% mining operations.
- Ethiopia aims to leverage the Grand Ethiopian Renaissance Dam for digital growth.
- The state utility, Ethiopian Electric Power, plays a critical role.
At the Finance Forward Ethiopia 2026 conference, Prime Minister Abiy Ahmed announced Ethiopia’s search for an investment partner to develop state-backed Bitcoin mining operations via Ethiopian Investment Holdings.
This initiative could bolster Ethiopia’s economy by leveraging renewable energy, potentially increasing its global Bitcoin hash rate and attracting international partnerships.
Ethiopia’s Prime Minister Abiy Ahmed revealed the government’s pursuit of an investment partner to initiate state-backed Bitcoin mining, highlighting at the Finance Forward Ethiopia 2026 conference that this move aligns with the Digital Ethiopia 2030 initiative to utilize renewable energy resources.
“We aim to leverage renewable energy for revenue and digital growth under the Digital Ethiopia 2030 initiative.”
Prime Minister Ahmed announced the collaboration through Ethiopian Investment Holdings, Africa’s largest sovereign wealth fund. The Ethiopian Electric Power utility supports this project with existing contracts, generating $55 million over ten months from mining activities.
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The initiative could significantly impact Ethiopia’s economy by enhancing digital infrastructure and revenue streams. This state-led approach reflects a shift in mining policies, aiming to capitalize on renewable energy for growth and innovation.
Potential outcomes include an increase in global Bitcoin mining contributions and economic diversification for Ethiopia. Ethiopia has emerged as a notable player in Bitcoin mining, utilizing its hydroelectric power resources. Historical precedent shows similar ventures by governments worldwide, with advancements in technology potentially enhancing efficiency and revenue.
