UAE-based Phoenix Group PLC, a global leader in blockchain and cryptocurrency infrastructure, has announced its expansion into Ethiopia through an 80-megawatt (MW) Power Purchase Agreement (PPA). This strategic move, executed in partnership with Abu Dhabi-based cybersecurity firm Data7, positions Ethiopia as a key hub for Phoenix Group’s bitcoin mining operations, set to launch in Q2 2025.
Phoenix Group CEO Munaf Ali described the project as a "testament to the Group's global momentum," while Reza Nejatian, CEO of Global Mining Operations, called it "a platform for growth in Africa and beyond."
This initiative underscores Ethiopia's potential in the digital asset space and highlights its growing role in global technological innovation. It also reinforces Phoenix Group’s commitment to sustainable energy solutions for advancing blockchain technologies.
Source: linkupbusiness
@Ethiopianbusinessdaily
Phoenix Group CEO Munaf Ali described the project as a "testament to the Group's global momentum," while Reza Nejatian, CEO of Global Mining Operations, called it "a platform for growth in Africa and beyond."
This initiative underscores Ethiopia's potential in the digital asset space and highlights its growing role in global technological innovation. It also reinforces Phoenix Group’s commitment to sustainable energy solutions for advancing blockchain technologies.
Source: linkupbusiness
@Ethiopianbusinessdaily