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South Africa's national power company Eskom plans to expand its Bitcoin mining business to alleviate its debt burden.
Gate News bot message, According to MSN reports, in the face of operational difficulties, South Africa's national power company Eskom is exploring new business directions such as supporting Bitcoin mining, artificial intelligence, and data centers.
Eskom CEO Dan Marokane stated that due to the proliferation of renewable energy, the company's electricity sales are expected to decline by 4% in 2024. To alleviate the pressure of 403 billion rand (approximately 22.7 billion USD) in debt, the company is exploring new sources of revenue.
Data shows that the average unexpected power outage in South Africa's grid reached 15,076 megawatts between June 13-19, and the country is considering implementing Stage 2 load shedding for winter. Eskom plans to reference the experience of Texas in the United States to balance the grid load by utilizing the interruptible power characteristics of Bitcoin mining farms.