Cryptocurrency Q&A
Where is bitcoin mining based in 2024?
Where is bitcoin mining based in 2024?
Sun Jan 12 2025
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5 answers
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I want to know the geographical distribution of Bitcoin mining in 2024. Specifically, I'm curious about the locations where most of the bitcoin mining activities are concentrated in that year.
5 answers
Tue Jan 14 2025
Bitcoin mining in 2024 continues to be predominantly located in East Africa. This region has emerged as a significant hub for cryptocurrency mining activities.
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Tue Jan 14 2025
Among the countries in East Africa, Ethiopia stands out as the leader in terms of shear hashrate. The hashrate refers to the computational power used to mine Bitcoins and validate transactions on the blockchain.
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Tue Jan 14 2025
Ethiopia's hashrate accounts for 2.5% of the global hashrate. This substantial contribution underscores the country's importance in the global Bitcoin mining landscape.
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Tue Jan 14 2025
According to data from Ethiopia Electric Power (EEP), the country has earned significant revenue from electricity sales to Bitcoin miners. In the year 2024 alone, Ethiopia has raked in over $55 million from these sales.
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Mon Jan 13 2025
This revenue represents a significant portion of EEP's total earnings. Specifically, the income from Bitcoin mining accounted for 18% of the total revenue generated by the Ethiopian power utility.
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