TL;DR
- Phoenix Group expanded its Bitcoin mining footprint with a 30MW facility in Addis Ababa, developed with Ethiopian Electrical Energy and constructed to scale for AI and high-performance computing.
- The undertaking kinds a part of a broader 132MW portfolio in Ethiopia, positioning the nation as a rising hub for energy-backed digital infrastructure.
- The corporate plans additional world progress, with new capability coming on-line in Ethiopia and North America within the subsequent quarters.
Phoenix Group, listed in Abu Dhabi, has bolstered its African presence with the launch of a 30MW Bitcoin mining facility in Addis Ababa. The location is positioned in Bole Lemi Industrial Park and was developed with Ethiopian Electrical Energy, securing long-term entry to competitively priced electrical energy. Spanning 6,250 sq. meters, the power provides roughly 1.9 EH/s to Phoenix’s world hashrate and is engineered to deal with increasing computational demand, together with synthetic intelligence and different rising workloads.
Throughout 2024, Phoenix secured an additional 52MW of mining capability inside Ethiopia, lifting its nationwide complete to 132MW. The event plan is cut up into two levels. Part one activated 20MW geared up with round 5,300 air-cooled ASIC miners. Part two will add 32MW utilizing liquid-cooling methods to boost vitality effectivity and enhance output reliability below hotter climates.
A Rising Hub For Digital Infrastructure
Ethiopia has entered the highlight for miners attributable to its hydropower potential and increasing industrial parks that favor data-center-style funding. Native authorities have proven willingness to draw international know-how companions, aiming to monetize surplus vitality and encourage digital growth. Analysts be aware that large-scale mining investments can contribute to international forex inflows, infrastructure upgrades, and tech-related employment, whereas giving firms like Phoenix an edge by decrease working prices and renewable vitality sources.
Phoenix reported mining 305 BTC in Q3 2024, with 195 BTC sourced from self-mining, representing an efficient proprietary hashrate of about 4.34 EH/s. The corporate held 682 BTC in its operational treasury on the finish of September, reflecting a technique of reinforcing steadiness sheet energy throughout market upswings.
World Growth And Ahead Outlook
Phoenix expects extra progress within the coming quarters. In This autumn, an additional 62MW in Ethiopia and 44MW in North America are set to go stay. For 2026, one other 90MW of capability is deliberate. Firm projections sign that self-mining hashrate may attain round 13 EH/s, a transfer that strengthens Phoenix’s positioning as a pro-innovation mining and digital infrastructure chief.
