China’s bitcoin miners line up for Ethiopia thanks to cheap energy, lax crypto regulations

News Snapshot:

Cryptocurrency miners in China are moving to greener pastures as the CCP continues to crack down on Bitcoin and other cryptocurrencies, in a bid to regulate the crypto market heavily. The country where they are setting up their new base? Ethiopia. Recently, large cargo containers have been spotted near the Grand Ethiopian Renaissance Dam (GERD), signalling a new development in Africa’s energy landscape. These containers house powerful computers, marking the arrival of Chinese Bitcoin miners in the region, as per a report by the South China Morning Post. Driven by the quest for affordable electricity and favourable regulations after being...