On April 29, 2025, the Phoenix Group announced in a press release sent to the Bitcoin magazine that it has added toogenous megawatts of Bitcoin mining capacity in Ethiopia, increasing its total number in the country to a hundred and twenty-two Megawatts. With this development, the Phoenix Group is now operating more than five hundred megawatts globally. This strongly strengthens their reputation as one of the world’s top ten Bitcoin mining workers and gives them plenty of opportunities to remain a great player in the Bitcoin mining sector. This expansion follows a former eighty Megawatts Power Purchase Agreement that actually started the Phoenix Group’s entry into the Ethiopian market.
The new place in Ethiopia will be built in two stages. Phase 1 activates twenty megawatt capacity using five thousand and three hundred high -efficient air -cooled mining with an output of 1.2 exahashes per day. Second (EH/S). Phase 2 is expected to be completed at the end of 2. quarter 2025, adding toogen-thirty megawatts using hydro-cooling technology that doubles the hash speed of the site to 2.4 EH/S.
“Phoenix Group has quickly become a leading strength among the top ten Bitcoin mining companies, a testimony to our strategic foresight to ensure primary locations with ample, low-cost energy and our operational expertise driven by vertical integration and advanced technology,” said Munaf Ali, CEO and co-founder of Phoenix Group. “The possibilities of future growth are enormous and we are obliged to aggressively expand our global footprint in key energy markets.”
It is important that over 90% of the energy that drives Phoenix’s Ethiopian operations comes from the great Ethiopian Renaissance pond, one of Africa’s largest sources of sustained hydropower. This places the place as one of the most sustainable large bitcoin mining projects globally, according to release.
“With a hundred and twenty -two megawatts of pure hydropower, now operational in Ethiopia, we are proud to set a new standard for green mining in Africa,” added Reza Nedjatian, CEO of Phoenix Mining, AI & Data Centers.