Miners went from receiving 75% of their contracted supply to 50%, and now they’re getting just 23%. Bloomberg reporter Fasika Tadesse was the first to report on the cuts, citing EEP CEO Ashebir Balcha. The contracts promised miners at least 98% of their agreed electricity, so operators have effectively watched three-quarters of their expected power disappear while homes and factories moved to the front of the line.
They had been mining some cheap Bitcoin. I guess when you have contracts with the electricity providers you just have yo suck it up.
Bad for the miners; all these decisions go against them.
They were supposed to wind them down entirely a few years ago. I wonder what happened.
Ethiopian Electric Power is state owned.
Mining $5000 Bitcoin can't last forever