Ethiopia has cut electricity supplied to Bitcoin miners to 23% of contracted levels, a 77% reduction, due to low water inflows in its hydroelectric reservoirs caused by drought conditions exacerbated by El Niño. Bitcoin miners accounted for 35% of Ethiopian Electric Power’s revenue last fiscal year. The company said it would reassess the situation in October and could impose further reductions or even restrict electricity exports to neighboring countries. Meanwhile, economist Saifedean Ammous estimates that global Bitcoin mining electricity consumption likely peaked in 2024 to 2025, facing competition from artificial intelligence data centers.
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