On April 29, 2025, Phoenix Group announced, in a press release sent to Bitcoin Magazine, that it has added fifty-two megawatts of Bitcoin mining capacity in Ethiopia, increasing its total in the country to one hundred and thirty-two megawatts. With this development, Phoenix Group now operates more than five hundred megawatts globally. This heavily strengthens their reputation as one of the world’s top ten Bitcoin miners, and gives them ample opportunities to stay a big player in the Bitcoin mining industry. This expansion follows an earlier eighty megawatts power purchase agreement that actually started Phoenix Group’s entry into the Ethiopian market.
The new site in Ethiopia will be built in two stages. Phase 1 will activate twenty megawatts of capacity using five thousand and three hundred high-efficiency air-cooled mining units, with an output of 1.2 exahashes per second (EH/s). Phase 2 is expected to be completed by the end of Q2 2025, and will add thirty-two megawatts using hydro-cooling technology, doubling the site’s hash rate to 2.4 EH/s.
“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,” said Munaf Ali, CEO and Co-Founder of Phoenix Group. “The opportunities for future growth are immense, and we are committed to aggressively expanding our global footprint in key energy markets.”
Importantly, over 90% of the energy powering Phoenix’s Ethiopian operations comes from the Grand Ethiopian Renaissance Dam, one of Africa’s largest sources of renewable hydropower. This positions the site as one of the most sustainable large-scale Bitcoin mining projects globally, according to the release.
“With one hundred and thirty-two megawatts of clean hydropower now operational in Ethiopia, we’re proud to set a new standard for green mining in Africa,” added Reza Nedjatian, CEO of Phoenix Mining, AI & Data Centers.