TechFlow, April 29 — According to Cointelegraph, bitcoin mining company Phoenix Group announced an additional 52 megawatts of mining capacity in Ethiopia, bringing its total capacity in the country to 132 megawatts and exceeding 500 megawatts globally. The project will be developed in two phases, fully powered by clean hydropower, with completion expected by the second quarter of 2025. After listing on the Abu Dhabi Securities Exchange at the end of 2023, Phoenix Group's stock price surged and is currently trading at approximately $7.94. In addition to its mining operations, the company is collaborating with Tether to develop a stablecoin pegged to the UAE dirham.
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