TeraHash to Launch 10MW Bitcoin Mining Site in Ethiopia
German Bitcoin mining company TeraHash is set to launch its first facility in Ethiopia, joining other major players in the region. The company aims to establish a 10-megawatt (MW) Bitcoin mining site near Addis Ababa, raising $5 million for the project.
TeraHash, a spin-off of the Klager Group, is leveraging its expertise in industrial efficiency and energy management to blend renewable energy with structured investment strategies. Operations at the Ethiopian facility are expected to commence in the next two to three months.
The company is working with two local partners, Canaan Inc. and Bitdeer, to build the Bitcoin mining business in Ethiopia. Both companies are active in the region, with Bitdeer operating a 50 MW project in the Oromia region and Canaan contributing significantly to the country’s mining hashrate. TeraHash will operate through a licensed local subsidiary to ensure compliance with emerging crypto regulatory landscape.
TeraHash's Head of Hashrate, Fabian Weber, confirms that hardware is en route and operations are expected next quarter, pending smooth logistics. The company aims to scale up operations to 60 megawatts in Ethiopia, potentially requiring an additional investment of $40 to $60 million.
Ethiopia is emerging as a major Bitcoin mining hub, attracting companies like TeraHash. The company's approach to Bitcoin mining, combining renewable energy and structured investment strategies, is expected to contribute to the country's growing mining scene.
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