Ethiopia: Government Restricts Bitcoin Mining to Preserve Nile Waters
Faced with drought linked to El Niño, Addis Ababa is limiting the activities of cryptocurrency companies, mostly Chinese, operating in the country to take advantage of its hydroelectric potential.
The Ethiopian government has announced restrictions on bitcoin mining within its territory, according to information reported by Le Monde. This decision aims to preserve Nile water resources, which are under pressure from drought.
According to the newspaper, many companies specializing in cryptocurrency creation, mostly Chinese, had massively established themselves in Ethiopia to take advantage of the country's strong hydroelectric potential. Bitcoin mining activity requires significant quantities of electricity, typically produced by dams.
According to Le Monde, the oceanographic phenomenon El Niño has caused drought that now reduces the capacity of these dams. This decline in hydroelectric production threatens the balance between the country's energy needs and those of cryptocurrency mining companies.
The new government restrictions follow this logic of preserving Nile water resources, a strategic river for Ethiopia and neighboring countries.
Sources
- En Ethiopie, le gouvernement restreint le minage de bitcoins pour préserver les eaux du Nil — Le Monde — Une
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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