On April 29, 2025, Phoenix Group announced the addition of 52 megawatts of Bitcoin mining capacity in Ethiopia, increasing the country's total to 132 megawatts. This development boosts their global mining capacity to over 500 megawatts across five countries. The expansion follows a previous agreement for 80 megawatts that initiated their entry into the Ethiopian market. The new site features two phases, utilizing efficient air-cooled and hydro-cooling technologies. CEO Munaf Ali emphasized their focus on strategic growth in energy markets fueled by clean energy.
Phoenix Group has rapidly become a leading force among the top ten global Bitcoin mining companies, a testament to our strategic foresight in securing prime locations with abundant, low-cost energy and our operational excellence driven by vertical integration and cutting-edge technology.
The opportunities for future growth are immense, and we are committed to aggressively expanding our global footprint in key energy markets.
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