Phoenix Energizes 30MW Bitcoin Mine in Ethiopia, Expanding African Footprint

Abu Dhabi-listed Phoenix Group has energized a 30-megawatt bitcoin mining facility in Addis Ababa, Ethiopia, marking its latest operational deployment in Africa.

Phoenix said in a release on Thursday that the site is developed in partnership with the state-owned utility Ethiopian Electric Power (EEP) at Bole Lemi Industrial Park.

The 6,250-square-meter facility adds about 1.9 EH/s to Phoenix’s global mining capacity and is said to accommodate future compute workloads, including artificial intelligence and high-performance computing.

Earlier this year, Phoenix secured 52 MW of mining capacity in Ethiopia to bring the total portfolio in the country to 132 MW. According to its schedule at the time, the 52 MW would be developed in two phases. Phase 1 will deploy 20 MW of capacity, activating around 5,300 air-cooled mining units and Phase 2, scheduled for completion by the end of the second quarter of 2025, will add an additional 32 MW using hydro-cooling technology.

According to Phoenix’s third-quarter earnings result, it mined 305 BTC, including 195 BTC from self-mining, which implied a realized proprietary hashrate of about 4.34 EH/s. It ended September with an operational treasury of 682 BTC and over 642,000 SOL tokens.

Phoenix said it expects additional new capacity of 62 MW in Ethiopia and 44 MW in North America to boost growth in the fourth quarter, with another 90 MW scheduled to come online in 2026. The company projects its self-mining hashrate to reach around 13 EH/s by early next year.