Chinese Bitcoin miners have set their sights on Ethiopia in a strategic move driven by the pursuit of cheap energy and favorable climates. Luxor Technology estimates Ethiopia has become one of the top destinations for Bitcoin mining equipment shipments, with Chinese miners comprising a significant portion. Once dominant in Bitcoin mining, Chinese firms face stiff competition in traditional hubs like Texas. As Chinese Bitcoin miners flock to Ethiopia, geopolitical dynamics come into play, with China’s investments in the country strengthening bilateral ties. Amidst uncertainties about regulatory oversight and long-term implications, Chinese Bitcoin miners still perceive Ethiopia as a promising frontier in their search for inexpensive energy and favorable operating conditions.
