Ethiopia has increased its power allocation to bitcoin mining to 600 trillion watts, making it one of the fastest growing bitcoin mining markets in the world. According to Ethan Vera, co-founder and CEO of bitcoin mining firm Luxor, the African country plans to add several hundred megawatts of power by the end of this year. Earlier this year, Ethiopia signalled its intention to become a leading bitcoin miner by signing power supply agreements with 21 mining companies, mainly from China. Coupled with the commissioning of the Ethiopian Renaissance Dam, these agreements are expected to not only open up new sources of foreign exchange for Ethiopia, but also make the country a hub for Chinese bitcoin miners.