Bitcoin mining in Ethiopia has now boosted the State Owned Electricity utility's revenue by $55 Million (18% of its annual revenue)
Ethiopian Tribune reports that Bitcoin mining achieves this by "monetising surplus energy" (energy that would otherwise have been wasted) and that "this revenue has been strategically reinvested into infrastructure development ... where Bitcoin mining profits fund the expansion of transmission lines and distribution networks."
These transmission lines help to bring much needed electricity to rural Ethiopians who often experience energy poverty. The Tribune reports that rural electricity access "remained at just 43% in 2021". Bitcoin mining provides a path to raise that percentage through accelerating the buildout of new transmission lines.
