Ethiopia's EEP earned $25M in revenue supplying USD electricity to 9 data mining firms, exceeding 90% of projected income.

Ethiopian Electric Power (EEP) earned $25M in revenue during the 2023/24 fiscal year supplying electricity to data mining companies, as part of their strategy to generate foreign currency by selling electricity in USD domestically. Since Dec 2022, 9 data mining firms have shifted to USD billing. Despite a slight shortfall in electricity supply, the revenue exceeded 90% of the projected income.

August 28, 2024
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