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Ethiopia has announced it is looking for a global partner to build a state-backed Bitcoin mining operation, moving from a model of hosting private miners toward something run with government involvement.

The call for partners was made at the Finance Forward Ethiopia 2026 event and signals a clearer role for the state in the country’s crypto plans.

Reports say Ethiopian Investment Holdings, the country’s sovereign fund, will lead the search and help set up the project with outside capital and technical know-how.

This shift aims to turn cheap, surplus hydropower into a steady source of foreign income instead of leaving it unused.

The move is simple on paper. Use local power. Create jobs. Bring in money. But the reality is quite complex. Ethiopia has already seen miners move in, drawn by low rates and access to hydroelectric plants.

Some deals have been quietly signed. The government hopes that a formal partner will bring better oversight and clearer returns to the state rather than the piecemeal contracts that came earlier.

Large miners have started running rigs in Ethiopia, and one company from the UAE brought a 30MW facility online late last year, tapping into hydropower near Addis Ababa. That project is one example of how outside firms are already scaling operations in the country.

For Ethiopia, this is a revenue play. Reports show the state power utility earned tens of millions of dollars by selling electricity to miners in a recent period, money that would otherwise not have been realized. Those receipts helped make the argument that mining can be folded into national plans for growth.

Some observers worry about tradeoffs. Mining uses lots of equipment and steady power. That can crowd out industrial customers if not managed well. It can also tie a portion of the grid to a business whose income swings with Bitcoin prices.

Still, the government says it wants a partner to reduce these risks and to share expertise so the country benefits more directly.

Finding the right partner will take time. Reports list interest from firms across the Middle East and Asia, and the government will need to balance foreign deals with local priorities.

The plan also sits inside the wider Digital Ethiopia 2030 effort, which links technology projects to economic goals.

Featured image from Unsplash, chart from TradingView

Trader Cryptollica (@Cryptollica) is arguing that an old relative-value signal is “back” in crypto markets, pointing to the DOGE/NVIDIA ratio and an unusually depressed Dogecoin RSI reading as evidence that capital could rotate from AI-linked equities into high-beta meme coins.

In a post on X, Cryptollica said the DOGE/NVIDIA chart has returned to a long-term support zone that previously preceded outsized Dogecoin outperformance versus Nvidia in prior cycles. “THE SIGNAL IS BACK. IT’S HAPPENING AGAIN (2017… 2021… NOW),” the trader wrote.

“The last two times this specific signal flashed on the DOGE/NVIDIA chart, we saw the biggest wealth transfer in history. The crowd is chasing the AI top. The algorithm is loading the Meme bottom. (Altcoin bottom).”

The core claim is less about Dogecoin in isolation and more about positioning on a ratio between what Cryptollica framed as two cultural extremes: “You are watching the wrong chart. This is the ratio of ‘The World’s Most Valuable Company’ (AI) vs. ‘The World’s Most Famous Meme’.” From that framing, the trader leans into a cycle-rhymes narrative, asserting that the ratio has repeatedly found channel support before a DOGE-led surge.

“Structure is repeating history,” Cryptollica wrote, attaching specific historical comparisons. “2017: Ratio hit channel support – DOGE outperformed NVDA by 100x. 2021: Ratio hit channel support – DOGE outperformed NVDA by 50x. NOW: We are back at the exact same support line.”

The posts also attach a broader liquidity-rotation story that has circulated in various forms across risk markets: when one trade stops working, capital seeks the next high-beta outlet: “When the AI Bubble exhales, that liquidity doesn’t vanish. It rotates into High-Beta Speculation,” the trader wrote. “The crowd is buying NVDA at the top. The algorithm is positioning for the DOGE reversal.”

In another post, Cryptollica shifted from the ratio to Dogecoin’s weekly momentum indicator, sharing a second chart highlighting RSI levels and labeling prior cycle lows. “Here you are witnessing an opportunity that only comes around once every 12 years,” the trader wrote. “Over the past 12 years (2014–2026), Dogecoin’s RSI has dropped this low only 4 times. Every single one was an epic buying opportunity.”

The post describes those four moments as a sequence of cycle bottoms, including an “all-time low” first cycle bottom, a “cycle bottom + COVID crash,” a “last cycle bottom,” and “RIGHT NOW!” Cryptollica concluded with a blunt decision frame: “Math or emotions — which one decides for you?”

While neither post includes an explicit price target, the analyst said in early December that he expects Dogecoin to reach $1.30 over the medium term, citing a parallel channel top on the 3-day DOGE/USD chart.

At press time, DOGE traded at $0.12581.