Ethiopia Cuts Power Supply to Bitcoin Miners by Three-Quarters

BlockBeats news, September 15th, according to Bloomberg, due to the impact of El Niño, the inflow to Ethiopia's hydroelectric dam has significantly decreased, and Ethiopian Electric Power Corp has cut electricity supply to the Bitcoin mining industry by three-quarters.

Data shows that Bitcoin mining companies contributed 35% of the company's revenue in the past fiscal year, with electricity consumption accounting for nearly one-third of the country's total power generation (9,730 megawatts). This large-scale power rationing may severely impact the operations of local mining companies.