Phoenix Group, a portfolio company of International Holding Company (IHC) and a global operator of digital asset infrastructure, has launched a 30-megawatt (MW) crypto-mining and digital infrastructure facility in Addis Ababa, Ethiopia.

The project was developed in partnership with Ethiopian Electric Power (EEP) and is located within the Bole Lemi Industrial Park, covering 6,250 square metres. Powered by Ethiopia’s national hydropower grid, the facility provides carbon-neutral electricity for crypto-mining operations and adds 1.9 exahashes per second (EH/s) to Phoenix Group’s total computing capacity.

The company stated that it has secured 132 MW of power in Ethiopia, with 20 MW already operational through an existing site and 82 MW under development across two locations scheduled to go live in 2026.

The Addis Ababa site forms part of Phoenix Group’s broader plan to expand across Africa, the Middle East, and North America, with a goal of reaching 1 gigawatt (GW) of total computing capacity.

The initiative is expected to support Ethiopia’s efforts to attract investment in renewable energy, enhance power exports, and strengthen its technology infrastructure. Phoenix said the facility will also support future operations in AI hosting, compute leasing, and high-performance computing (HPC).

Source: Aletihad