Bitcoin Mining Infrastructure Company Phoenix Group Expands Its Operations in Ethiopia

Abu Dhabi, United Arab Emirates – Phoenix Group (ADX: PHX) has secured an additional 52 MW of mining capacity in Ethiopia, further expanding its footprint in the East African nation. This news comes as Phoenix Group continues to rapidly expand its global operations and technologies in new markets.

Phoenix Group is one of the world’s top ten Bitcoin miners, and it now operates over 500 MW of capacity across five countries. The company’s expansion in Ethiopia is part of its broader strategy to increase its presence in key energy markets around the world.

Earlier this year, Phoenix Group announced its entry into Ethiopia with an 80 MW power purchase agreement (PPA), enabling efficient, low-cost, and sustainable operations in a strategically important region. The newly secured 52 MW site will be developed in two phases. Phase 1 will focus on 20 MW of capacity, engaging 5,300 high-efficiency air-cooled mining units to attain an expected 1.2 EH/s hash rate. By the end of Q2 2025, Phase 2 will introduce an additional 32 MW using hydro-cooling technology, doubling the site’s total hash rate to approximately 2.4 EH/s once fully operational.

Munaf Ali, CEO & Co-Founder of Phoenix Group, said: “At Phoenix Group, we’re rapidly becoming a top ten Bitcoin mining company globally, thanks to our strategy of securing prime locations with abundant, low-cost energy and driving operational excellence through vertical integration and cutting-edge technology. The opportunities for future growth are immense, and we’re committed to aggressively expanding our global footprint in key energy markets. Initiatives like this latest expansion in Ethiopia are pivotal steps that will create significant value today and solidify our position at the forefront of this dynamic global industry for years to come.”

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

Phoenix Group’s operations in Ethiopia are among the most sustainable in global Bitcoin mining, with 90% of their energy sourced from renewable hydropower via the Grand Ethiopian Renaissance Dam. This clean energy focus reflects the Group’s commitment to responsible growth and advancing energy-conscious practices across its global mining portfolio.

About Phoenix Group

Phoenix Group is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE. Founded in 2017, the company has rapidly grown and established a global presence, with a diverse portfolio in blockchain, crypto, and technology sectors.

As one of the world’s top ten Bitcoin miners, Phoenix Group drives innovation, sustainability, and operational excellence, advancing digital asset and blockchain adoption. Phoenix Group operates mining facilities across the UAE, US, Canada, Oman, and Ethiopia, totaling over 500 MW capacity.

Phoenix Group is the first crypto and blockchain company in the Middle East listed on the Abu Dhabi Securities Exchange (ADX) and operates the largest mining farm in the MENA region.

Social Media

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LinkedIn: Phoenix Group UAE

Website: phoenixgroupuae.com

Source: AETOSWire