Ethiopia’s Prime Minister has revealed plans to mine Bitcoin and other crypto assets with clean energy. This move makes the country join other nations that use sovereign wealth funds for Bitcoin mining, boosting crypto adoption.
Ethiopia Will Start Bitcoin and Crypto Mining
Ethiopia plans a more active approach in the government-sponsored crypto and Bitcoin mining, according to an X post on January 19. The country is currently looking for an investment partner to mine Bitcoin.
Ethiopian Prime Minister Abiy Ahmed confirmed the plans during the Finance Forward Ethiopia 2026 conference. It is part of the government initiative to strengthen financial inclusion, develop country’s financial sector, and boost capital markets and digitalization.
The country will likely engage in direct Bitcoin mining through Ethiopian Investment Holdings (EIH), Africa’s largest sovereign wealth fund. The country’s government actively promotes and licenses crypto mining.
He mentioned the strategy to harness the country’s abundant renewable energy resources for Bitcoin mining to generate revenue and economic growth. This makes Ethiopia another country to adopt Bitcoin.
Nations with Government-Sponsored BTC Mining
Ethiopia is among the list of countries pursuing Bitcoin mining with government resources, according to asset manager VanEck. Matthew Sigel, head of digital assets research at VanEck, noted that more governments are sponsoring Bitcoin miners.
Ethiopia has leveraged its massive Grand Ethiopian Renaissance Dam (GERD) and other hydropower projects for Bitcoin and crypto mining. The Prime Minister’s latest statement indicates a shift toward Bitcoin adoption as a strategic reserve rather than generating profits through foreign partners.
However, the country halted new crypto mining licenses last year due to electric grid strain. Cheap energy has attracted many international Bitcoin mining firms. Notably, the UAE-based Phoenix Group announced a partnership with Ethiopian Electric Power (EEP), the nation’s state-owned utility, for a new mining data center.
Other countries with government-sponsored Bitcoin mining include Russia, France, Bhutan, El Salvador, and the UAE. Japan became the 11th country to join the list. Japan has witnessed massive crypto adoption, with Metaplanet as the fourth-largest Bitcoin treasury.
Many countries have adopted a Bitcoin reserve strategy and crypto adoption plans following US President Donald Trump’s pro-crypto policies.
Source: https://coingape.com/ethiopia-prime-minister-announces-bitcoin-and-crypto-mining-plans/