Phoenix Group Expands Bitcoin Mining in Ethiopia to 132MW
Phoenix Group, a leading global Bitcoin miner, has expanded its operations in Ethiopia. The company has added fifty-two megawatts of capacity, bringing its total to one hundred and thirty-two megawatts. This growth is part of a larger strategy that sees Phoenix operating over five hundred megawatts globally, solidifying its top ten ranking in the Bitcoin mining groupme.
The expansion in Ethiopia is happening in two phases. Phase 1, already underway, will activate twenty megawatts of capacity using five thousand and three hundred high-efficiency air-cooled mining units. This initial phase is expected to produce 1.2 exahashes per second (EH/s).
Phase 2, slated for completion by the end of Q2 2025, will double the site's hash rate to 2.4 EH/s. This will be achieved through the implementation of hydro-cooling technology, a sustainable cooling method that harnesses the power of water to cool the mining units.
Phoenix Group's commitment to sustainability is evident in its choice of energy source. Over 90% of the energy powering its Ethiopian operations comes from the Grand Ethiopian Renaissance Dam, making it one of the most sustainable large-scale Bitcoin mining projects globally, with a positive impact on the bitcoin price.
With this expansion, Phoenix Group continues to strengthen its position as one of the world's top ten Bitcoin miners. The company's strategic use of sustainable energy sources and innovative cooling technologies positions it well for future growth in the dynamic world of cryptocurrency mining.
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