Phoenix Group Boosts Ethiopia Bitcoin Mining Capacity to 132 MW

Phoenix Group has expanded its Bitcoin mining operations in Ethiopia, securing an additional 52 megawatts, bringing its total capacity there to 132 megawatts and surpassing 500 megawatts globally across five countries. Development of New Site to Be Conducted in Stages The Abu Dhabi-based bitcoin miner, Phoenix Group, has secured an additional 52 megawatts (MW) of … Read more

Ethiopia Signals Potential Shift on Cryptocurrency Stance

The governor of the National Bank of Ethiopia (NBE) has indicated that the bank may issue guidelines for the use of cryptocurrency in the country, suggesting a potential shift in the country’s stance on digital currencies. While cryptocurrency is currently illegal in Ethiopia, the NBE is closely monitoring global developments in central banking and may … Read more

UAE and Chinese Investment Firms Partner on Ethiopian Energy Infrastructure Project

Hodler Investments and GCL Energy Investment have partnered to develop a distributed energy infrastructure project in Ethiopia to power next-generation data centers. Boosting Ethiopia’s Data Center Market The United Arab Emirates (UAE) investment firm Hodler Investments has partnered with GCL Energy Investment to develop a distributed energy infrastructure project in Ethiopia. The project is expected … Read more

Bitfufu Expands to Africa: Acquires 80MW Bitcoin Mining Facility in Ethiopia

Nasdaq-listed cloud mining services company Bitfufu has announced an agreement to acquire a majority stake in an 80-megawatt (MW) Bitcoin mining facility in Ethiopia. This strategic move marks a significant shift for the company as it transitions from an asset-light strategy to managing a diverse portfolio of Bitcoin mining infrastructure. With this acquisition, Bitfufu’s hosting … Read more

Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade

Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to advance this initiative during its 2025 chairmanship, … Read more

BRICS to Discuss Alternative Payment Platforms at Upcoming Summit

Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on traditional financial platforms. Lavrov emphasized the increasing use of national currencies in BRICS trade, particularly with … Read more

BRICS Beats Dollar Dependence: National Currency Settlements Exceed USD Payments

The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using the U.S. dollar can lead to expenses that can be avoided when paying with other currencies, BRICS Deputy Chairman of the Chamber of Commerce and … Read more

BRICS Gains Global Appeal as 34 Countries Show Interest, Putin Reveals

Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration of new members, sharing updates on BRICS activities under Russia’s chairmanship. 34 Countries Show Interest in BRICS, Putin Says Russian President Vladimir Putin said on … Read more