$300,000 weekly reward, independent miners make a comeback; why is Ethiopia suddenly mining?

This week, Bitcoin mining has seen several noteworthy developments. The total network hash rate continues to rise to 1039 EH/s, a 3.4% increase week-over-week; two independent miners each produced a block, earning approximately $300,000 in rewards; and the Ethiopian authorities have begun exploring Bitcoin mining deployment. These signals, combined, reflect subtle yet significant changes happening within the mining ecosystem.

Weekly Data Overview

Hash rate and price performance

Both hash rate and prices are experiencing moderate growth. Looking at the longer-term perspective, BTC has declined 5.79% over the past 7 days but has still increased 2.88% on a monthly basis, indicating that the market remains on an overall upward trajectory.

Three Major Mining News Highlights

The “Black Swan” Moment for Independent Miners

This week, two independent miners each produced a block, earning about $300,000 in rewards. This figure warrants further consideration.

In the current mining ecosystem, large pools and mining companies have already monopolized most of the hash rate. Independent miners typically need to invest millions of dollars in hardware and electricity costs to have a chance at producing a block. The fact that two independent miners succeeded within the same week suggests a few possibilities:

First, this is not a routine event. The probability of an independent miner producing a block depends on their share of the total hash rate. When such a low-probability event occurs twice in one week, it either indicates exceptional luck or the entry of new independent miners into this ecosystem.

Second, earning $300,000 in a single week is a significant incentive for small miners. This may be attracting more retail miners to reconsider the feasibility of independent mining.

NIP Group and Bitdeer’s Industry Movements

NIP Group disclosed producing 151.4 BTC this week, while Bitdeer sold 146.8 BTC, reducing their holdings to about 1,502 BTC. Together, these pieces of information reflect a strategic adjustment among mining companies: some are increasing production, while others are actively reducing holdings. This usually indicates differing market outlooks among participants regarding short-term prospects.

Geopolitical Signals from Ethiopia

Most interestingly, the Ethiopian government has begun exploring Bitcoin mining deployment. This is not just a mining news story; there are deeper strategic implications.

According to related reports, Ethiopia is embracing RMB settlement, which is a new strategy for African countries to counter the depreciation of the US dollar and reduce foreign exchange risks. Against this backdrop, Ethiopia’s exploration of Bitcoin mining takes on new significance: it leverages abundant local hydropower resources to create value and participates in the global economic system through digital assets.

Ethiopia possesses Africa’s richest hydropower resources, making mining costs relatively low. If officially launched, this initiative could attract more global mining capital into Africa, potentially shifting the current mining concentration from North America and Asia.

In-Depth Analysis

This week’s data reflects changes in the mining ecosystem across three levels:

Diversification of Participants

From dominance by large mining firms to profits for independent miners, and now to official involvement from emerging countries, the structure of participants is expanding. This diversification generally signals a maturing and stabilizing market.

Geographic Expansion

Traditional mining centers (North America, Central Asia, Asia) are expanding into emerging regions like Africa. This reflects a rebalancing of global energy distribution and economic policies.

Long-term Confidence

Despite short-term price fluctuations, the continuous growth in hash rate and mining investments indicates that market participants remain confident in Bitcoin’s long-term value.

Future Focus

Whether Ethiopia’s mining deployment can be realized and whether it will inspire other African nations to follow suit are key points to watch in the coming months. If this trend materializes, the global landscape of mining could undergo significant changes. Additionally, whether independent miners can sustain profitability depends on whether hash rate growth accelerates further.

Summary

The three main themes in mining this week—steady hash rate growth, substantial earnings for independent miners, and official involvement from Ethiopia—point to a new phase where Bitcoin mining is shifting from high concentration to a more diverse and geographically dispersed participation. This is a positive signal for the long-term healthy development of the industry. In the short term, the market is still digesting price volatility; in the medium term, new participants and regions could reshape the competitive landscape of mining.