Ethiopia cuts power supply to BTC miners by 77% amid drought

Ethiopia’s state-owned power utility Ethiopian Electric Power reduced electricity supply to Bitcoin mining companies by 77%, Bloomberg reported. The move follows worsening drought conditions tied to El Nino, which pushed water inflows into hydropower reservoirs down 20%. EEP first cut supply to 75% and then 50% of contracted levels before lowering it to 23%, while prioritizing electricity for manufacturers and households. Bitcoin miners consume about one-third of Ethiopia’s total 9,730 MW of generation capacity and accounted for 35% of EEP’s revenue in the last fiscal year. A total of 39 mining companies currently have power purchase agreements with EEP, including 31 that are in operation.