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Phoenix Group Expands Bitcoin Mining Capacity in Ethiopia to 132 MW, Strengthening Its Global Footprint

Bitcoin mining firm Phoenix Group has announced a major capacity expansion in Ethiopia, adding 52 megawatts (MW) to its operations in the country. This development brings the company’s total mining capacity in Ethiopia to 132 MW, and pushes its global capacity beyond 500 MW.

In a press release dated April 29, Phoenix Group's co-founder and CEO Munaf Ali emphasized the strategic importance of the expansion. “Initiatives like our latest expansion in Ethiopia are pivotal steps, not only creating significant value today but also solidifying our position,” he said. Ali also reiterated the firm’s strategy of targeting prime locations with abundant, low-cost energy, aligning with Phoenix’s broader vision of sustainable, high-efficiency mining operations.

The latest expansion follows a power allocation agreement Phoenix secured in January 2025, giving the company rights to draw up to 80 MW of power in Ethiopia. At the time, the company noted that its new mining facility would go live in the second quarter of 2025 — a timeline the company is now well on track to meet.

The new 52 MW site is being rolled out in two stages. The first phase, currently underway, utilizes 20 MW to power 5,300 air-cooled mining machines with an estimated hashrate of 1.2 exahashes per second (EH/s). The second phase, expected to be completed by the end of Q2 2025, will bring the site to full capacity using water-cooling technology, boosting its total hashrate to 2.4 EH/s.

To put that in perspective, a single exahash represents one quintillion (10^18) hashes per second, a unit used to measure the computing power of a blockchain network — especially relevant to Bitcoin mining operations, where computational efficiency is key.