Bitcoin miner Phoenix Group adds 52 MW of mining capacity in Ethiopia

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The story "Bitcoin miner Phoenix Group adds 52 MW of mining capacity in Ethiopia" was covered 18 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 18h ago

Bitcoin miner Phoenix Group adds 52 MW of mining capacity in Ethiopia - Coin Telegraph

Quick Summary:

Reza Nedjatian, the CEO of the firm’s mining, artificial intelligence and data center subsidiary, highlighted that the plant will be powered by renewable energy:“With 132 MW now running on clean hydropower, we’re proud to set a new benchmark for sustainable mining in Africa and deliver large-scale operations in energy-rich regions.”Related: LAPD recovers $2.7M worth of Bitcoin miners stolen in airport heistA fast-burn companyPhoenix Group became a publicly-traded company following its late 2023 listing on the Abu Dhabi Securities Exchange.

Bitcoin mining firm Phoenix Group announced the addition of 52 megawatts (MW) worth of mining capacity to its capabilities in Ethiopia.

Related: Arkansas city rejects crypto mining proposal after community pushbackBuilding on previous agreementsThe news follows Phoenix Group signing an agreement that secures the right to 80 MW of power in Ethiopia in January.