Bitcoin Mining in Ethiopia: Risk or Opportunity?
Based on insights from my on-site visit, I explored the potential and challenges of #BitcoinMining in #Ethiopia. Full details are in the blog!👇
This is the first of a 4-part report.
🌍 Link: rai-lai.com/en/blogs/blog/…
#Bitcoin #btc
Yesterday’s #hashrate data either picked up an unusually low reading or had an error, which is why today’s change shows over 100%. In reality, it’s just flat compared to yesterday’s actual level. The mining difficulty is still expected to increase by around 9% in 9 days...
https://image.nostr.build/8301e7335bfe024e7fa79d3431b4e6f3da59ea4382d9bde19cad6cc0ff1a1899.jpg
#MiningDifficulty #Bitcoin #BTC #BitcoinMining
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I’ve uploaded photos from my #Ethiopia trip to Instagram. While Ethiopia might have a dangerous image, Japan’s Ministry of Foreign Affairs recently lowered the risk level for Addis Ababa, showing that things have calmed down. Located on a high plateau at 2,000 meters above sea level, it has a spring-like, pleasant climate. #Bitcoin #BTC #BitcoinMining
https://www.instagram.com/p/DClwybivzJl/?igsh=MW1ncnM2cGR4cmpzbw==
Today’s #hashrate data likely picked up a brief dip or contains an error—sorry about that! The actual figure is over 700 RTH/s (via CoinWarz). While #Bitcoin's price is hitting new highs, it’s the hashrate that’s got me worried... and giving me a stomachache.
#BTC #BitcoinMining #RaiLai https://image.nostr.build/64e1245bd6f537efa7f21ecc0102bc712d0d93aff8d01c8d6e3b64c590c4ddf5.jpg
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Good morning!
There’s been a slight adjustment to the #MiningDifficulty (+0.63%). As for the #hashrate, yesterday’s drop was just a brief dip in the data, and now it’s spiked way up again... 🥲
According to mempool.space if this keeps up, mining difficulty is expected to rise by over 10% in 11 days 😓 #Bitcoin #BTC
https://image.nostr.build/87992840b24dab17deb310a820f2b954837e079b639425eaa0fedee2c7f5b9e8.jpg
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Good evening. I’m back in Asia. Looking at the weekly summary, it’s clear how significant #Bitcoin ’s movements have been. Having spent time in inflation-stricken Ethiopia, I felt the value of Bitcoin even more strongly. #BitcoinMining #RaiLai
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#ashrate shot up again today, back into the 800 EH/s range... would be nice if it could settle down a bit.
#Bitcoin #BTC
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Good morning! After finishing my visit to #BitcoinMining sites in #Ethiopia, I’m now heading back home via Saudi Arabia. I’ll share more details later.
The hash rate has dropped below 600 EH/s and seems to be stabilizing. According to mempool.space, #MiningDifficulty is also expected to decrease by 0.59%!
#Bitcoin #BTC
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Hello! The #hashrate seems to be settling down a bit. However, from what I’ve heard here in Ethiopia, #BitcoinMining is about to heat up. #Bitcoin #BTC
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Hello! The #hashrate increase is within the usual daily range. With recent price trends, more bullish miners are likely to jump in, so we probably need to expect #miningdifficulty to rise even more.
Heading off to Addis Ababa in Ethiopia now. #BTC #BitcoinMining #RaiLai
https://image.nostr.build/bf25c13400c0d4137c6f2c5192cc25dcd44cbfe070c976804528508b4af0cc3d.jpg
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Good evening! As a miner, I’m more at ease seeing the hash rate settle down a bit, rather than focusing on price trends. Chart from CoinWarz. #Bitcoin #BTC #hashrate #RaiLai
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Is HODLing Bitcoin the right choice, or does mining hold greater potential? Rai Lai dives deep into this ultimate decision.
Explore the hidden allure of Bitcoin mining and the strong conviction and forward-thinking mindset required of miners. For those who believe in Bitcoin's future, let's mine Bitcoin together. 🚀🌍
#BTC #mining
https://rai-lai.com/en/blogs/bitcoin-mining/bitcoin_hodl_vs_mining
Good evening! Starting this Monday, I'll be sharing weekly data along with the daily updates.
The section labeled 'Weekly Summary' below is where you’ll find the weekly data.
For the first weekly post, we’re already seeing a 17% price increase—last week was pretty wild. And of course, both the #hashrate and mining difficulty went up too 🥲 #Bitcoin #BTC
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It's a good idea to get the yellow fever vaccine before traveling to some African countries. Ethiopia doesn’t require vaccination for entry, but Japan’s Ministry of Health recommends it.
In Hong Kong, places that offer the yellow fever vaccine are limited, and appointments are booked months in advance.
In my case, I opted to get vaccinated at a hospital in Malaysia, where they told me I could come in as soon as the next day.
I shared the story of Hideyo Noguchi, who passed away from yellow fever, with the Malaysian doctor, received my vaccination certificate, and now I'm all set! https://image.nostr.build/0b29808723dc6b45998e2ab6b12caa5c7681dce9444dcf7aa12c9afa4f67130b.jpg
Hello! #Bitcoin staying above $70,000 is starting to feel like the new normal. If prices keep rising, more people will likely start mining, which could drive up costs.
So, I'm heading out to scout new locations for mining. First stop is Ethiopia next week, with a stopover in Saudi Arabia. There's not much info out there about mining in Saudi, so I’ll be gathering insights on the ground.
#BTC #hashrate
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Good morning! With last night’s FOMC rate cut, #Bitcoin's price is staying strong. But as a miner, I'm even more focused on where the #hashrate is headed. Looks like 800 EH/s might soon be the new normal 🥲 #BTC
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Good morning! #Bitcoin has hit a new all-time high again! It’s exciting, but as a miner, I'd really prefer a slower climb (I’ll explain why soon). The #hashrate is now regularly in the 700 EH/s range 🥲
#BTC #BTCUSD #BTCUSDT
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Good morning! #Bitcoin is moving so fast that the price from just two hours ago below feels totally outdated. Looks like we might hit a new all-time high today!
#BTC #BTCUSD #BTCUSDT
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Good morning. This morning, mining difficulty increased by 6%, and the #hashrate has fully rebounded from the past two days’ decline 🥲.
For #Bitcoin miners, higher mining difficulty means fewer bitcoins earned for the same effort.
But it’s not all bad news. Times like this can mean cheaper ASIC miner prices and more available mining locations.
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In addition to sharing daily #Bitcoin data (price, #hashrate, and mining difficulty), we’ll also be posting weekly data. I’ll be running some tests now. #BTC
Hey there! The #hashrate has dropped for two days straight, but it looks like we can’t avoid a mining difficulty increase in about 17 hours. mempool.space says we’re looking at a 6% jump... 🥲 #Bitcoin #BTC
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Hello. Bitcoin’s price is taking a break again today.
The hash rate has dipped below 700EH/s, but that’s within the usual range of fluctuations. According to mempool.space, mining difficulty is expected to rise sharply by +7.77% in 38 hours… This could put dedicated miners, like publicly traded mining companies, under serious pressure. Mining as a side gig is becoming more important!
#Bitcoin #BTC #hashrate
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Good morning. Had an online meeting with #Bitcoin miners in the U.S. this morning.
I was happy to hear that they, like me, can’t fully celebrate Bitcoin’s price increase without worrying about various things.
It felt good to know we share the same feelings.
#BTC #BTCUSD #BTCUSDT
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Hello! #Bitcoin has dipped below $70,000 again. Since I was considering making an additional investment, this cooling off actually works in my favor, keeping machine prices from rising.
I mentioned yesterday that the hash rate digits were incorrect, but it’s still not fixed. After adjusting yesterday’s figures, the rate change now looks odd. I thought I had fixed the code—apologies for that. I’ll be testing the revised script now.
#BTC #BTCUSD #BTCUSDT
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GM! #Bitcoin is taking a pause, and honestly, this pace feels just right. Yesterday’s hash rate increase was reported in error—it was actually around 772.630 TH/s, up about 4%. (The display units have been off by three extra digits, but I’ll be fixing that from now on.) #BTC
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Good morning! #Bitcoin is getting close to its all-time high 📈. As miners, we’re not in a rush to 'buy now!' since our mining costs don’t jump right away 💪.
Today’s hash rate shows a sharp drop, but I think it’s just a data error… 🙏. Current check shows it at 772,620 EH/s, down about 3.4% from yesterday 📉.
#BTC #Bitcoin #BTCUSD #BTCUSDT #Hashrate
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This is cool. Good for those living in the north.
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Good morning!
#Bitcoin finally broke through the $70,000 mark this morning. I'm thrilled, but as a Bitcoin miner, there’s a bit of mixed feelings and unease too. Hashrate has also risen for the second day in a row 🥲
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Good morning! #Bitcoin finally broke through the $70,000 mark this morning. I'm thrilled, but as a Bitcoin miner, there’s a bit of mixed feelings and unease too.
Good morning. In yesterday's election in Japan, the ruling party lost ground, and unfortunately, none of the parties addressed core economic issues or explained funding for their promised handouts. It leaves us even more worried about Japan’s future, and it’s getting harder to have faith in the yen as a stable currency.
Meanwhile, #Bitcoin has climbed back to the $68,000 range. #Hashrate is also up, but let’s take it as a sign of a stronger Bitcoin network. Let’s keep pushing forward this week!
#BTC #BTCUSD #BTCUSDT
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Good morning. In yesterday's election in Japan, the ruling party lost ground, and unfortunately, none of the parties addressed core economic issues or explained funding for their promised handouts. It leaves us even more worried about Japan’s future, and it’s getting harder to have faith in the yen as a stable currency.
Meanwhile, #Bitcoin has climbed back to the $68,000 range. #Hashrate is also up, but let’s take it as a sign of a stronger Bitcoin network. Let’s keep pushing forward this week!
#BTC #BTCUSD #BTCUSDT
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GM! Yesterday, crypto prices took a big hit, but as always, #Bitcoin is bouncing back the quickest!!!
#BTC #BTCUSD #BTCUSDT
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Notes by SkyPanda | export