Ethiopia Says No Thanks to Crypto Mining: Protecting Power for the People! ⚡️

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Well, hold on to your mining rigs, folks! Ethiopia just decided to hit the pause button on new crypto mining power permits. They’re prioritizing some good ol’ fashioned power access for their own people instead of letting foreign miners drain their grid. 💡

Ethiopia has declared, “That’s enough!” to granting electric power permits to crypto mining companies. Apparently, Ethiopian Electric Power (EEP) is having a bit of a freak-out about the power grid and the energy sustainability, which-shocker!-is not just a buzzword. Who knew? 🙄

Crypto Mining Takes a Whopping 27% of Ethiopia’s Electricity-Yikes!

It’s all about that “cheap” electricity, you know-the kind that flows like a river from hydropower generation facilities, with the Grand Ethiopian Renaissance Dam (GERD) leading the way and drawing in Bitcoin enthusiasts like moths to a flame. Currently, there are 25 crypto companies trying to mine their way to the top, while another 20 were just waiting for the official “nope, not today” from the powers that be.

EEP’s brilliant strategy was to lure these miners with surplus power-also known as stranded power-meant for those lazy low-demand hours. They were hoping to rake in some foreign currency like a kid collecting Pokémon cards. 📈

But reports reveal that crypto mining is chowing down on about 27% of Ethiopia’s total electricity-not exactly a balanced diet when millions of people are still left in the dark. Critics are having a field day, arguing that while foreign firms are raking in bucks, countless Ethiopians are stuck in the Stone Age when it comes to electricity access. 🏕️

This new policy isn’t just a local dilemma; it’s a signal flare for all of Africa. Countries with abundant renewable energy are struggling to meet the local demand. Ethiopia’s hydropower might be on the rise, but during peak hours and dry seasons, the grid is like your grandma at a buffet-struggling to keep it together. EEP even said, “Look, we need to figure out how to make renewable energy reliable and affordable for everyone instead of just our VIP foreign guests.”

Ethiopia Hits the Brakes on New Crypto Mining Permits

Other African nations, like Kenya and Ghana, are perking up their ears and taking notes on Ethiopia’s “let’s slow down on the crypto” strategy. Maybe they can find the sweet spot between economic growth and making sure their citizens aren’t practicing candlelight yoga every night. 🕯️🧘‍♂️

Related Reading: Ethiopia Uses Grand Renaissance Dam to Boost Bitcoin Mining | Live Bitcoin News

So, while no new permits are being handed out like Halloween candy, existing operations can keep the lights on-for now. This break gives officials time to rethink the electricity game plan and who gets the golden ticket. 🎟️

On the bright side, EEP just dropped their performance report like it’s hot. Last year, they raked in 75.4 billion birr mainly from electricity sales. Here’s how that electricity pie got sliced: households got 60%, crypto miners snagged 27%, industries took 6%, and 7% was sent off to neighboring countries to make it rain. Ethiopia even pocketed $118 million from selling electricity to Kenya, Djibouti, and Sudan. Not bad, huh? 💸

Once the GERD project is fully operational, it’s expected to crank out more than 5,000 megawatts of pure electricity magic! Soon enough, Ethiopia might start sending power to Somalia and South Sudan. Let the power parties begin! 🎉

But spoiler alert: even with all these improvements, only half the population will have electricity coverage. So, the government is like, “We really need to invest more in those transmission lines-sorry, what was that? Oh, yes, the people need to be connected!” 🙃

In summary, Ethiopia’s move to ban new crypto mining licenses is a pretty clear signal that they’re putting energy equity on the front burner. With their expanding power capacity, they want to ensure everyone-yes, even those who don’t mine Bitcoin-gets a slice of that electric pie. Because everyone deserves to flip the switch without doing the flashlight dance! 💃🕺

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2025-08-11 20:27