Phoenix Group Adds 52 Megawatts of Bitcoin Mining Capacity in Ethiopia, Increasing Total Global Operational Capacity to Over 500 Megawatts
Phoenix Group PLC (ADX:PHX), a pioneering global cryptocurrency, blockchain, and next-generation digital asset infrastructure company, has secured an additional 52 MW of mining capacity in Ethiopia. This expansion increases the Company's total operational capacity in the country to 132 MW and raises its global capacity to over 500 MW across five countries, reinforcing Phoenix Group's position as one of the world's top 10 Bitcoin miners.
Earlier this year, Phoenix Group marked its entry into Ethiopia with an 80 MW power purchase agreement (PPA), laying the groundwork for efficient, low-cost, and sustainable operations in a strategically important region. The newly secured 52 MW site will be developed in two phases. Phase 1 will deliver 20 MW of capacity, activating 5,300 high-efficiency air-cooled mining units with an expected output of 1.2 EH/s. Phase 2, set for completion by the end of Q2 2025, will add a further 32 MW, using hydro-cooling technology. Once fully operational, the site's total hash rate is projected to double to approximately 2.4 EH/s.
Phoenix Group's Ethiopian operations rank among the most sustainable in global Bitcoin mining, with 90% of their energy sourced from renewable hydropower via the Grand Ethiopian Renaissance Dam. This clean energy focus reflects the Group's commitment to responsible growth and advancing energy-conscious practices across its global mining portfolio.
About Phoenix Group
Phoenix Group is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE. Founded in 2017, the company has rapidly grown and established a global presence, with a diverse portfolio in blockchain, crypto, and technology sectors.
As one of the world's top ten Bitcoin miners, Phoenix Group drives innovation, sustainability, and operational excellence, advancing digital asset and blockchain adoption. Phoenix Group operates mining facilities across the UAE, US, Canada, Oman, and Ethiopia, totaling over 500 MW capacity.
Phoenix Group is the first crypto and blockchain company in the Middle East listed on the Abu Dhabi Securities Exchange (ADX) and operates the largest mining farm in the MENA region.
Social Media
X (Twitter):@phoenixgroupuae
LinkedIn:Phoenix Group UAE
Website:phoenixgroupuae.com
Source: AETOSWire
View source version on businesswire.com:https://www.businesswire.com/news/home/20250429668189/en/
CONTACT: Phoenix Group PLC Media Team:
Rose Perinchery –[email protected] Group:
Humza Vanderman / James Styles –[email protected]
KEYWORD: AFRICA ETHIOPIA UNITED ARAB EMIRATES MIDDLE EAST
INDUSTRY KEYWORD: TECHNOLOGY FINANCE FINTECH OTHER ENERGY PROFESSIONAL SERVICES DIGITAL CASH MANAGEMENT/DIGITAL ASSETS BLOCKCHAIN ENERGY DATA MANAGEMENT CRYPTOCURRENCY
SOURCE: Phoenix Group PLC
Copyright Business Wire 2025.
PUB: 04/29/2025 08:16 AM/DISC: 04/29/2025 08:16 AM
http://www.businesswire.com/news/home/20250429668189/en
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