Ethiopia has announced that it is looking for a global partner to build a government-backed Bitcoin mining operation, moving from a model of hosting private miners to something driven by government involvement.
The request for partners was made at the Finance Forward Ethiopia 2026 event and shows the country’s clear role in the country’s crypto programs.
Kingdom Seeks Global Partner
Reports say Ethiopian Investment Holdings, the country’s private equity fund, will lead the search and help develop the project with foreign capital and technical know-how.
The reform aims to turn cheap, abundant hydropower into a strong source of foreign income instead of leaving it unused.
Movement is easy on paper. Use local power. Create jobs. Bring money. But the truth is complicated. Ethiopia has already seen an influx of miners, drawn by low prices and access to hydroelectric power plants.
Some deals were signed quietly. The government hopes that the official partner will bring better oversight and clearer returns to the government than the sub-contracts that arrived earlier.
Energy and Money
Major miners have started making steel in Ethiopia, and one company from the UAE brought a 30MW facility online late last year, using electricity near Addis Ababa. That project is one example of how foreign firms are already expanding operations in the country.
In Ethiopia, this is an income game. Reports indicate that the state-owned power company has made tens of millions of dollars by selling electricity to miners in the recent past, money that otherwise would not have been available. Those receipts helped make the case that mining could be folded into national growth plans.
Ethiopia's skyline. Image: Getty Images.
Some observers worry about trade-offs. Mining uses a lot of equipment and fixed power. That can suffocate industrial customers if not managed properly. It can also tie part of the grid to a business with fluctuating income in Bitcoin prices.
However, the government says it wants a partner to reduce these risks and share information so that the country can benefit directly.
Next
Finding the right partner will take time. Reports list profits from firms in the Middle East and Asia, and the government will need to balance foreign deals with domestic priorities.
The program also sits within the broader Digital Ethiopia 2030 effort, which links technology projects with economic goals.
Featured image from Unsplash, chart from TradingView
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