Last week, on Thursday, February 15, the Ethiopian Government’s investment arm, Ethiopian Investment Holdings (EIH), signed a memorandum of understanding with Honk-Kong-based West Data Group’s Center Service PLC to commence mining bitcoin.
The partnership is under a general agreement for a groundbreaking $250 million data mining project “that is dedicated to establishing cutting-edge infrastructure for data mining and artificial intelligence training operations in Ethiopia,” according to the EIH. Ethiopia is positioning itself as a leader in the data centre space in Africa, which is estimated to grow to $5.4 billion by 2027, according to Aritzon Advisory and Intelligence.
As noted by Kal Kassa, CEO for Ethiopia at Hashlabs Mining, “the development is part of the Ethiopian Government’s aim to drive economic growth by leveraging technology and energy sources to attract foreign investments.”
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