In 2024, Africa now contributes 3% of the global Bitcoin mining hashrate, with Ethiopia emerging as a key player by accounting for 2.5% of this total. This growth comes as Ethiopia’s Bitcoin mining industry, fueled by renewable energy, gains momentum, alongside other African countries such as Kenya that are also embracing this technology to spur economic development and improve energy access.
Bitcoin mining in Africa is becoming a significant industry, bolstered by some of the world’s cheapest green energy, including Ethiopia’s low cost of electricity at 3.2 cents per kilowatt-hour. In Ethiopia, over $1 billion was invested in mining infrastructure in 2024, and local miners are making strides by using renewable resources like hydro and biomass power.
Ethiopia has seen substantial benefits from Bitcoin mining, including a reported $55 million in revenue from electricity sales for the industry in 2024, which accounts for 18% of the country’s total electricity revenue. This is helping speed up the development of infrastructure, particularly the much-needed transmission lines that will improve electricity delivery from the Grand Ethiopian Renaissance Dam (GERD), which is now generating 30% of its planned capacity.
As the industry expands, Ethiopia’s efforts in mining are providing more than just economic benefits. The revenue is funding crucial energy projects aimed at electrifying rural communities, creating jobs, and promoting sustainable energy practices. With growing interest in Bitcoin mining across the continent, Africa’s potential to use mining as a catalyst for green energy and development appears promising.
In 2025, the trend is expected to continue with other nations, like Nigeria, exploring Bitcoin mining to address energy challenges. Africa’s involvement in the sector could increase further, with hydroelectricity and flared gas providing additional sources of power for Bitcoin mining activities. The future looks bright for Bitcoin mining as a tool to support both economic growth and sustainable energy solutions across Africa.