Ethiopia cuts power supply to Bitcoin mining companies by three-quarters

According to Bloomberg, due to the impact of the El Niño phenomenon, the inflow to Ethiopia's hydropower dams has significantly decreased, and Ethiopian Electric Power Corp has reduced electricity supply to the Bitcoin mining industry by three-quarters.

Data shows that Bitcoin mining companies contributed 35% of the company's revenue in the past fiscal year, with their electricity consumption accounting for nearly one-third of the country's total power generation (9,730 megawatts). This large-scale power restriction may severely impact the operations of local mining companies.