Ethiopia Cuts Power to Bitcoin Miners Amid El Niño Drought

Ethiopia has drastically cut the power supply to its Bitcoin-mining industry by three-quarters due to reduced inflows into its hydroelectric dams. The country's hydroelectric dam production is impacted by El Niño, a climate phenomenon that affects global weather patterns.

The Bitcoin miners 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 power production of 9,730 megawatts. This significant reduction in power supply will undoubtedly impact the country's mining industry, which relies heavily on this energy source.

The decision to cut power supply is part of Ethiopia's efforts to manage its hydroelectric dam production and ensure a stable electricity supply for the rest of the population. The move may also have implications for the global Bitcoin mining community, as Ethereum is among the countries where Bitcoin miners operate.