BIT Mining Limited, a technology-driven cryptocurrency mining company, has completed the second and final phase of its acquisition of cryptocurrency mining infrastructure in Ethiopia, bringing the total power capacity of its data centers in the country to 51 megawatts.

The first phase of the expansion was completed on Dec. 9, 2024, following BIT Mining’s agreement six days earlier to acquire cryptocurrency data centers and mining machines in the East African country. The company initially secured a 35 MW operational site and 17,869 Bitcoin mining rigs, paying $2.265 million in cash and issuing 369 million Class A ordinary shares as part of the deal.

The second phase, completed yesterday, involved the deployment of additional mining machines and the acquisition of the remaining data center infrastructure. To close the deal, BIT Mining issued an additional 45,278,600 Class A shares, bringing the company’s total site capacity in Ethiopia to 51 megawatts.

The company has also signaled a shift in direction. While maintaining its Bitcoin mining operations, BIT Mining is increasingly eyeing the Solana ecosystem as a promising space for future expansion.