Terahash , a German Bitcoin mining firm spun off from the family-owned Klager Group, is preparing to launch operations at its first facility in Ethiopia. The company is raising $5 million to build a 10-megawatt (MW) site near Addis Ababa, set to begin operations within two to three months.
The mining facility, being developed with two local partners, marks Terahsh’s entry into Ethiopia’s budding bitcoin mining industry. If all things proceed as planned, the Company plans to scale operations to 60 MW, which could require additional investment between $ 40 and 60 million.
“This initial 10 MW facility represents a cautious but significant entry point. Hardware is en route, and operations are expected next quarter, pending smooth logistics.” Says Fabian Weber, Terahash’s Head of Hashrate, a role that involves leading initiatives in Bitcoin mining and energy infrastructure.
“Success could justify expansion, necessitating substantial further investment,” he told Shega.
Founded as an offshoot of the Klager Group, a 75-year-old, family-owned German manufacturing company, Terahash’s approach to Bitcoin mining combines the use of renewable energy with structured investment models. A direction influenced by Klager’s longstanding focus on industrial efficiency and energy management. The pivot to Bitcoin mining was prompted in part by Europe’s energy crisis that followed the Russo-Ukraine war. When electricity prices in Germany rose by as much as 400%, the Klager Group adopted renewable energy and alternative energy uses, including the integration of Bitcoin miners into its operations.
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