Sunday, June 23, 2024

Bitcoin mining is set to grow in Africa.

Bitcoin and cryptocurrency have been wildly popular in Asia and Latin America, but in its latest endeavor, it has enticed the people of Africa too. With Kenya’s numerous NGOs accepting crypto to stay afloat during the pandemic there will soon be a boom in Bitcoin mining in the continent too.

With Google showing that a lot of people in Africa are now searching for how to mine Bitcoin, there is a big chance that this soon might be a reality. This is because they have been quick to adopt the DeFi fintech and have lesser regulations.

According to Google Trends, Nigeria, Zimbabwe, and Ethiopia are some of the highest ranking places when it comes to searching for Bitcoin mining. This newly parked interest combined with the low cost of operations in the country could see a lot of people mining bitcoin.

This is great news as China and Russia have banned crypto-related activities in their countries, last year itself. Egypt has a hash rate of 0.14% of the total Bitcoin Hash rate. As of now, there are newer miners in the country. But off-grid solar mining operations have been reported from Zimbabwe too. A company in Ghana has also claimed that they have been mining since 2016.

With more and more people coming forward to support the new DeFi tech and cryptocurrencies in general, Africa just might become the next mining hub. They have all the necessary ingredients to start mining and become a great BTC mining power.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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