Ethiopian Electric Power (#EEP) has reported revenue of $10.1 million over the past 9 months from providing energy to data mining companies operating in the country. This income is part of EEP’s initiatives to diversify its revenue streams for the current fiscal year, contributing to a total revenue surpassing 756 million ETB.
According to Menilik Getahun, the Manager of Sales and Customer Management at EEP, the institution earned 72.83 million ETB from service fees charged to companies that have installed their servers at EEP’s distribution stations. Menilik highlighted the institution’s consistent revenue growth, which rose from 9 billion ETB in the 2020 fiscal year to over 21 billion ETB in the 2023 fiscal year.
In the first nine months of the 2024 fiscal year, EEP has generated a total of 20.28 billion ETB. Menilik stated that the office has received power supply requests from twenty-five organizations seeking to engage in data mining, with four companies already operational and nine others partnering with EEP by housing their servers at the institution’s distribution stations.
This announcement comes after a previous report three months earlier, which indicated that EEP had earned over $2 million from selling electricity to two data mining companies.
Source: Addis Standard
