Ethiopia Power Outage Hits Bitcoin Miners Amid Global Energy Frenzy

A sharp power reduction to 23% has hit Bitcoin miners in Ethiopia, according to recent reports. This significant decrease in energy supply has left many in the crypto community wondering about its implications for the industry.

The move comes at a time when the global banking system consumes more energy than ever before. Cambridge's latest survey on crypto mining found that Bitcoin obtains more than 52% of its electricity from sustainable sources.

Meanwhile, the surging rise of artificial intelligence has unleashed a cutthroat race for global energy infrastructure. Tech company Hyperscale Data recently shut down all its Bitcoin mining rigs at its Michigan data center in preparation for a massive AI contract worth $1.2 billion.

Tether's release of offline AI translation models for African and European languages is also making waves in the industry. The AfriSLM model, with just 60 megabytes of memory required, enables real-time translations on everyday devices.