In the sun-scorched, wind-whipped expanse of Ethiopia-a land where ancient secrets murmur through the dust-the guardians of the grid have drawn a line in the sand. With a flourish that would have amused even Steinbeck himself, they’ve put a freeze on new electric permits for the crypto miners, those modern-day prospectors whose digital pickaxes hunger for power. In a twist of irony, the very promise of cheap tariffs and abundant hydropower that once lured 25 bitcoin outfits (and nearly 20 more lurking on the sidelines) now meets the hard truth of limited capacity.
The Electric Enterprise of Ethiopia (EEP), ever the shrewd salesman, once hawked its surplus energy to these foreign-backed fortune seekers-cash in hand, paid in hard currency. But as the sages of the land caution, the reported consumption might well be a mirage. In truth, these crypto miners have lined the coffers with a princely $338 million in export revenue last year-a 141% leap that seems almost too good to be true. And yet, despite 20 power stations and electricity flowing to neighbors like Kenya and Djibouti, only about half the Ethiopians even know what it means to flip a switch. The awaited Grand Ethiopian Renaissance Dam (GERD), promising a torrent of 5,000 megawatts, still dangles before a nation that must first string together the steel sinews of a modern transmission network. In this unfolding saga, progress and prudence dance a precarious tango, leaving one to smirk at the age-old twist: in the quest for power, sometimes the power you need is the very thing you risk losing. 😏
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2025-08-11 06:59