Climate Change and Crypto: Ethiopia’s 75% Power Cut Tests Bitcoin Mining’s Green Pitch
In climate change crypto news, Bitcoin miners have spent years pitching hydropower as proof the network can run clean. Ethiopia just showed what happens when the water backing that pitch stops showing up on schedule.
The state utility slashed electricity supplied to Bitcoin and other data-mining companies by roughly 75%, leaving them with about 23% of contracted power.
The question worth asking isn’t whether climate change killed Bitcoin mining in Ethiopia; it didn’t, but whether this is an isolated dry spell or a preview of what hydro-dependent mining hubs should expect more often.
This news dropped as BTC USD trades for $76,850, down -1.2% over the past 24 hours, following a -2.2% drop over the last seven days. Daily trading volume sits at $31.9Bn.
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