El Niño Drives Ethiopia to Slash Bitcoin Miners' Power Supply by Three-Quarters

Ethiopia has drastically cut off power supply to its Bitcoin-mining industry, reducing it by three-quarters. This decision comes as a result of the country's struggle with reduced inflows into its hydroelectric dams, attributed to El Niño.

The Bitcoin-mining companies accounted for 35% of Ethiopian Electric Power Corp’s revenue in the past financial year and consume almost a third of the nation’s total production of 9,730 megawatts. The reduction in power supply will likely impact the country's Bitcoin miners, who rely heavily on the affordable electricity to operate.