Ethiopia cuts power supplies to Bitcoin miners by 75% due to drought
- —Power supplies to miners were cut by about 75%
- —Only 23% of contracted volumes were actually delivered
- —Miners generated about 35% of EEP's revenue in the past fiscal year
- —Miners consumed nearly a third of Ethiopia's generation (9,730 MW)
Why it matters: The cut in power to miners in Ethiopia reduces hashrate and weighs on the economics of local mining, increasing risks for energy-intensive operations.
Source: PANews