Ethiopia is set to host a major megawatt mining facility, with its first line to be launched by autumn 2024. The project is being carried out by UMINERS (HK), a mining company and data centers operator. The construction of the first phase with 24,000 high-performance ASIC miners with a total 100 MW of power capacity is already underway. The facility will deploy the latest energy-effective mining equipment manufactured by Bitmain, an official partner of UMINERS, like Antminer S21, S21 Hydro, T21, and S19.
“The increasing complexity of mining necessitates greater investment in robust equipment. The industrial-scale mining for extracting the remaining bitcoins has never been more pertinent,” commented Batyr Hydyrov, President of UMINERS. He further noted, “The battle for accessing sufficient electrical power is intensifying globally, as the slowdown in miner sales worldwide is mainly due to the scarcity of installation sites and available power capacity.”
Emerging as a premier choice for miners, Ethiopia provides access to cost-effective and environmentally sustainable hydroelectric power, positioning it as an optimal locale for efficient and eco-conscious cryptocurrency mining operations. Ethiopia has about 5,200 MW of installed generation capacity, with around 90% of it coming from hydropower and the remaining 10% from wind and thermal sources. According to Luxor Technologies, Ethiopia’s mining-friendly legislation, energy potential, climate conditions, and competitive electricity rates have solidified its status as one of the top destinations for Bitcoin mining. In 2023, Ethiopia secured the fourth position in the top mining destinations, trailing behind the USA and Hong Kong.
UMINERS’ expansion into Ethiopia aligns with its strategy of global expansion aimed at bolstering the company’s mining capacity and consolidating its global market presence. According to UMINERS, this strategic initiative is expected to catalyze Ethiopia’s economic and technological progress, fostering symbiotic partnerships and sustainable development. UMINERS plans to expand its operations in various regions including Africa, the Middle East and South America, the company representative noted.
In articulating the company’s strategic vision, president of UMINERS Batyr Hydyrov reiterated, “Our actions align with the motto ‘Crypto needs more power,’ a theme we have consistently presented at industry expos. The leadership at UMINERS understands the trajectory of the industry and is strategically positioning the company to meet these evolving demands.”
Established in 2017, UMINERS stands as a global entity specializing in cryptocurrency mining equipment sales and data centers management with a combined capacity of 90 MW. UMINERS is an official distributor for mining equipment manufacturers such as BITMAIN and MicroBT. The company is headquartered in Guangzhou, China and has branches in HK, UAE, USA, Singapore and Oman.
