May 25 , 2024
Ethiopian Electric Power (EEP) has garnered over half a billion Birr in revenues over the past nine months through power sales to data mining companies. While the initial announcement mentioned "data mining," EEP now clarifies they are targeting data centres, which encompass a wider range of computing services beyond cryptocurrency mining. Menelik Getahun, head of EEP's market development, emphasizes the importance of diversifying revenue. He said data centre sales complement EEP's traditional income sources like power sales and fibre optic rentals. EEP officials also earned 121.78 million Bt from the Reppie Waste-to-Energy Power Plant, showcasing alternative energy sources. They announced it would be selling energy to data mining companies a few months ago after several BitCoin miners showed interest in the vast hydropower resources of the country. Crypto mining is an energy-intensive process demanding amounts ranging from 10MW to 100MW. Ethiopia generates around 5,200MW of energy from hydroelectric sources, making it a lucrative source of cheap electric energy for miners, who are not welcome for long in most countries.
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