Ethiopia Cuts Bitcoin Mining Power Supply by 75%

Ethiopia's state-owned electric utility has cut power supply to bitcoin mining and data mining companies by 75%. The current supply level is approximately 23% of contracted amounts. According to Ethiopia Business Review, citing a yearly performance briefing by Ethiopian Electric Power Corporation CEO Ashewer Balcha, the reduction is a precautionary measure due to decreasing water inflows into hydroelectric reservoirs. Balcha stated that the utility had initially committed to supplying 98% of purchased power under contracts but reduced supply as the dry season approaches. The corporation plans to reassess hydroelectric generation in October and decide whether to increase or further reduce power supply to data mining companies.