Phoenix Group Doubles Bitcoin Mining Capacity in Ethiopia

Phoenix Group has significantly expanded its Bitcoin mining operations in Ethiopia, adding 52 megawatts (MW) to its existing capacity. This expansion brings the company’s total mining capacity in the country to 132 MW and contributes to a global capacity exceeding 500 MW. Munaf Ali, co-founder and CEO of Phoenix Group, emphasized the importance of accessing reliable and cost-effective energy sources as key factors driving strategic growth. He highlighted that these expansions are crucial for creating value and strengthening the company’s market position.