Phoenix Group Amps Up Their Bitcoin Mining Power To A Global Capacity Of Over 500 Megawatts

Phoenix Group Expands Bitcoin Mining Capacity in Ethiopia

Phoenix Group, a prominent player in the Bitcoin mining industry, has recently made a significant announcement regarding their expansion in Ethiopia. On April 29, 2025, the company revealed that they have added fifty-two megawatts of Bitcoin mining capacity in Ethiopia, bringing their total capacity in the country to one hundred and thirty-two megawatts. This development boosts Phoenix Group’s global capacity to over five hundred megawatts, solidifying their position as one of the top ten Bitcoin miners worldwide.

The expansion in Ethiopia follows an earlier power purchase agreement for eighty megawatts, which marked Phoenix Group’s entry into the Ethiopian market. The new site in Ethiopia will be constructed in two phases. Phase 1 will activate twenty megawatts of capacity using high-efficiency air-cooled mining units, generating an output of 1.2 exahashes per second (EH/s). Phase 2, scheduled for completion by the end of Q2 2025, will add an additional thirty-two megawatts using hydro-cooling technology, doubling the site’s hash rate to 2.4 EH/s.

Munaf Ali, CEO and Co-Founder of Phoenix Group, expressed the company’s strategic vision and operational excellence in securing prime locations with abundant, low-cost energy. He highlighted the immense opportunities for future growth and emphasized Phoenix Group’s commitment to expanding its global footprint in key energy markets.

Notably, over 90% of the energy powering Phoenix’s operations in Ethiopia is sourced from the Grand Ethiopian Renaissance Dam, a major renewable hydropower facility in Africa. This makes the site one of the most sustainable large-scale Bitcoin mining projects globally. Reza Nedjatian, CEO of Phoenix Mining, AI & Data Centers, underscored the company’s commitment to setting a new standard for green mining in Africa with one hundred and thirty-two megawatts of clean hydropower operational in Ethiopia.

With this latest expansion, Phoenix Group is poised to maintain its position as a leading force in the Bitcoin mining industry, leveraging sustainable energy sources and cutting-edge technology to drive growth and innovation.