Ethiopia Cut Mining Power to 23%, Hashrate Fell 35%.

Ethiopia’s miners were promised some of the world’s cheapest hydropower. Now tariffs are rising, available power has fallen sharply, and the country’s hashrate dropped 35% in a single quarter. The more interesting story isn’t simply that drought reduced Ethiopia’s mining hashrate, but how quickly one of the world’s most attractive mining markets shifted from abundant cheap power to miners receiving something else than they expected. Cheap Power Isn’t Cheap If You Can’t Use It Ethiopia Became...