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Renaissance Dam and Bitcoin Mining Link
The article features statements from Ethiopia's Minister of Water Resources and Irrigation, who criticized the ongoing narrative that the primary goal of the Grand Ethiopian Renaissance Dam (GERD) is to generate electricity for the Ethiopian people. He suggested that part of the electricity produced is being used to mine Bitcoin, raising questions about the sustainability of using the dam for this purpose. Reports revealed that Ethiopia has contracted with 39 Bitcoin mining companies, which consume about one-third of the country's total electricity production of 9,730 MW. The report indicated that Bitcoin mining activities consume enormous amounts of energy, undermining the declared developmental objectives of the dam and leading to an unsustainable waste of water resources. It also showed that most Ethiopians lack access to electricity; currently, only 44% of the population has access. Despite the dam increasing the country's generating capacity from 4,500 MW to 7,910 MW, the use of electricity for Bitcoin mining threatens sustainability and Egypt's water security—especially given Ethiopia's low electricity costs and its attractiveness to international companies following China's ban on Bitcoin mining.
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