Phoenix Group to Build a 52MW Bitcoin Mining Site in Ethiopia

The new 52MW site will go live in two phases within the next year and is expected to be fully operational by Q2 of 2025.

Phoenix Group has begun rolling out a new 52MW Bitcoin mining site in Ethiopia, adding around 2.4 exahash per second (EH/s) to its total hash rate.

The new site will go live in two phases within the next year and is expected to be fully operational by Q2 of 2025. The first phase will deliver 20MW while the second phase of construction will deliver the remaining 32MW, taking the site’s total hash rate to 2.4EH/s.

Phoenix Group purchased the Ethiopia site in January, and claims 90 percent of its Bitcoin mining energy comes from renewable hydropower via the Grand Ethiopian Renaissance Dam.

“With 132 MW now running on clean hydropower, we’re proud to set a new benchmark for sustainable mining in Africa and deliver large-scale operations in energy-rich regions,” said Reza Nedjatian, CEO of Phoenix Mining, AI & Data Centers.

The company added another 50MW of mining power to its global roster in January when its North Dakota site went live, delivering an additional 2.7EH/s to its global hash rate.

Construction on the Dakota facility began just five months prior to its energization. Munaf Ali, CEO of Phoenix Group, said: “The investment and opening of the Dakota site is an important step in our strategy to grow our mining capacity globally and in the United States in 2025 and beyond. Building and energizing a 50MW site in less than five months is a testament to the extraordinary capability of our engineering and operations teams.”

Phoenix Group’s Bitcoin mining data centers span the US (x3), Canada, Oman, Ethiopia, and the United Arab Emirates. Bothmining for itself and hosting hardware for others, the company’s combined 15EH/s amounts to around 2 percent of the total Bitcoin hash rate.