The Bitcoin mining company Phoenix Group announced the addition of 52 megawatts (MW) of mining capacity to its operations in Ethiopia. According to an announcement on April 29, with this latest addition, Phoenix's Bitcoin mining capacity in Ethiopia reaches 132 MW. The global capacity of the firm now reportedly exceeds 500 MW.

The co-founder and CEO of Phoenix, Munaf Ali, said that the firm's strategy is based on "securing prime locations with abundant and low-cost energy."

"Initiatives like our latest expansion in Ethiopia are crucial steps, not only creating significant value today but also consolidating our position,"

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