Abu Dhabi-listed cryptomining and blockchain conglomerate Phoenix Group has struck an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia, it said on Wednesday, as it pursues a global diversification strategy by entering the Africa market.

Phoenix Group, an Abu Dhabi-listed blockchain and crypto solutions company, has signed an 80-megawatt power purchase agreement in Ethiopia, marking its strategic entry into the African market. The deal,

Abu Dhabi-based technology conglomerate Phoenix Group has acquired an 80 megawatt (MW) power purchase agreement (PPA) in Ethiopia. It follows just weeks after the company launched a 50MW cryptocurrency mining facility in North Dakota in the US.