Africa's hydropower resources will not be used for irrigation, but for obtaining virtual currency.
A new study of global electricity prices has shown where mining one bitcoin is the cheapest.
According to the presented ranking, Iran ranks first — the cost of electricity for obtaining one bitcoin is $1,324, followed by Ethiopia at $1,986. Thus, these two countries find themselves at the center of one of the most energy-intensive industries in the world.
These findings come amid renewed attention to the crypto sector. Bitcoin has already broken price records for 2025, energy regulators are tightening control, and several countries, including the USA and EU nations, are preparing new measures to limit the environmental footprint of digital mining.
In countries like Iran, Ethiopia, Sudan, Syria, Cuba, and Libya, electricity is extremely cheap — often due to government subsidies or an abundance of hydropower. This makes bitcoin mining unusually accessible.
The research firm CoinShares, one of the most authoritative in the field of digital assets, recently reported that electricity accounts for more than 70% of all operational costs for miners. Therefore, it is not surprising that companies continue to migrate to where electricity is cheaper.
Ethiopia, for example, is becoming a new hub for the industry thanks to powerful hydropower projects, including the Grand Ethiopian Renaissance Dam. Foreign mining firms are already entering the country's market under special agreements with the government, attracted by the extremely low cost of energy.
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