El Niño Drought Disrupts Ethiopia's Bitcoin Mining Operations

Ethiopia's Bitcoin miners are facing a severe power supply cut due to reduced inflows into its hydroelectric dams, which has led to a three-quarter reduction in electricity allocation. The country's hydroelectric dams have been affected by the El Niño weather phenomenon, causing a shortage of water and consequently reducing power generation. As a result, the Bitcoin-mining industry, which accounted for 35% of Ethiopian Electric Power Corp's revenue last financial year, is facing significant disruptions.

The industry consumes approximately one-third of the nation's total production of 9,730 megawatts. The power supply cut will undoubtedly impact the operations and profitability of the Bitcoin miners in Ethiopia.