Ethiopia Boosts Revenue with Bitcoin Mining from Grand Renaissance Dam

Ethiopia’s Grand Renaissance Dam is transforming excess hydroelectric power into a lucrative source for Bitcoin mining, contributing 18% to Ethiopian Electric Power’s revenue. With competitive electricity tariffs attracting international miners, the country has secured deals with 25 BTC mining businesses, generating tens of millions in income. This shift not only boosts the economy but also supports renewable energy initiatives across Africa, highlighting the potential of sustainable energy in driving economic growth.

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Stand with Crypto PAC Endorses John Deaton Against Elizabeth Warren in Senate Race

John Deaton has received the endorsement of the Stand with Crypto PAC in his challenge against Senator Elizabeth Warren, highlighting a significant divide in crypto policy approaches. While Deaton advocates for the crypto industry and criticizes regulatory overreach, Warren emphasizes national security concerns and proposes stricter regulations. The Massachusetts Senate race is emerging as a key battleground for differing views on digital asset regulation.

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Trump’s Crypto Ventures and Legislative Challenges in the Lame Duck Session

Amidst a potential lame-duck session, Rep. Patrick McHenry sees a chance for crypto legislation, including the FIT21 bill, to be attached to a spending bill. Meanwhile, Trump’s involvement in crypto, particularly with his WLF token, raises concerns about conflicts of interest and the Emoluments Clause, as Democrats may resist supporting crypto bills that could benefit the Trump family financially. Senate Majority Leader Chuck Schumer acknowledges the future of crypto but has not prioritized it in his legislative agenda.

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Launch of 2023 Banking Industry Survey Report by PWC in Lusaka

Dr. Denny H Kalyalya, Governor of the Bank of Zambia, delivered a speech at the launch of the 2023 Banking Industry Survey Report by PWC in Lusaka on August 26, 2024. He emphasized the importance of the findings presented in the report, reflecting on the current state and future prospects of the banking sector. The views shared are solely those of the speaker and do not represent the Bank for International Settlements.

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Tree planting initiative marks 60 years of central banking in Zambia

During the Bank of Zambia’s 60th anniversary, a tree planting initiative was launched to promote environmental sustainability and combat climate change, aligning with the UN’s Sustainable Development Goal No. 13. The event highlighted the importance of trees in maintaining ecological balance and called for collective action to preserve Zambia’s forests. The Bank partnered with the National Heritage Conservation Commission to ensure the saplings thrive, emphasizing corporate social responsibility and the need for businesses to engage in reforestation efforts.

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The Global Market Report: Tech Boom, Political Shifts, and Commodity Surges

The first half of 2024 has seen a surge in global markets, with chipmaker Nvidia leading the rally in world stocks. The yen has slumped to a 38-year low against the US dollar, while cocoa prices have soared almost 85% in commodity markets. Political events, M&A activity, and currency fluctuations have also made significant impacts on the global financial landscape.

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Strike Expands Bitcoin Services to Seven African Countries for Cross-Border Payments

Bitcoin firm Strike has expanded its services to seven African countries, offering support for cross-border payments and business transactions. The company aims to provide affordable and quick B2B cross-border payments using Bitcoin technology, targeting regions with economic challenges and high remittance rates. This expansion allows users to access Bitcoin and USDT services, with plans for further market announcements in the future.

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Bitcoin Payments App Strike Expands to Africa, Addressing Financial Challenges

Strike, a Bitcoin-focused payments app, has launched “Strike Africa” to provide Bitcoin-based financial solutions in countries facing high inflation. The expansion aims to empower individuals in Africa by offering services like buying and selling Bitcoin and Tether’s dollar stablecoin, local fiat currency on-ramps and off-ramps, and global payments using Bitcoin’s Lightning network. This move reflects Strike’s commitment to global financial inclusion and innovation, addressing the economic challenges faced by African nations.

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