The Ethiopian authorities have announced a groundbreaking plan to invest a whopping $250 million in developing infrastructure for bitcoin mining and educating their citizens in digital technologies. This visionary move comes as the government signed an agreement with Data Center Service, an esteemed company in the field.
State-owned Ethiopian Investment Holdings will be responsible for funding the infrastructure development dedicated to mining. The expertise of Data Center Service, a subsidiary of Hong Kong’s esteemed West Data Group, will be utilized to provide technical solutions for the implementation of the bitcoin mining infrastructure.
The CEO of Hashlabs Mining, Kal Kassa, has confirmed the news, stating that his company has been actively mining cryptocurrency in Ethiopia for over two years. This creates even more excitement and credibility for the government’s ambitious plans.
It is worth noting that Chinese companies have also recognized Ethiopia’s potential as a hub for investment and large-scale bitcoin production, further emphasizing the country’s appeal in the crypto space.
Sophie Berger covers EU regulation and policy from Brussels. With a Master's in European Affairs from Sciences Po and five years at Politico Europe, she tracks MiCA implementation, ECB digital-euro work and ESMA enforcement. Sophie is fluent in French, German and English, and has interviewed three EU commissioners on record. Her policy briefs are read across the BTCNews newsroom every morning.
