Phoenix Group expands its Bitcoin mining capacity to 500 MW global capacity
On April 29, 2025, Phoenix Group announced in a press release sent to Bitcoin Magazine that it has added 52 MW of Bitcoin mining capacity in Ethiopia, increasing its total in the country to 132 MW. With this development, Phoenix Group now operates 500 megawatts worldwide. This greatly strengthens their reputation as one of the top ten bitcoin miners in the world and provides them with enough opportunities to maintain a large player in the Bitcoin mining industry. This expansion comes after an earlier 80 MW province power purchase agreement that actually initiated Phoenix Group’s entry into the Ethiopian market.
The new site in Ethiopia will be divided into two stages. Phase 1 will use 5,000 and 300 high-efficiency air-cooled mining units to activate 20 MW of capacity, with a production of 1.2 (EH/s) per second. Phase 2 is expected to be completed by the end of 2025, and 32 MW will be added using hydropower technology to bring the hash rate of the site to 2.4 EH/s.
“Phoenix Group has quickly become a leading force among the top 10 Bitcoin mining companies in the world, demonstrating our strategic vision in ensuring quality locations with abundant, low-cost energy, and our operational excellence driven by vertical integration and sharp technology,” said Munaf Ali, CEO and co-founder of Phoenix Group. “The opportunities for future growth are enormous and we are committed to actively expanding our global footprint in key energy markets.”
Importantly, more than 90% of the energy source for Phoenix’s Ethiopian operation comes from the Greater Ethiopian Renaissance dam, one of Africa’s largest sources of renewable hydropower. This positioned the site as one of the most sustainable large-scale Bitcoin mining projects in the world, according to the press release.
Reza Nedjatian, CEO of Phoenix Mining, AI and Data Center, added: “With 1422 MW of clean hydropower operating in Ethiopia, we are proud to set up new green mining standards for Africa.”
