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Bitcoin Mining Ghana

Three words were reported this week that  may seem a little strange together: Bitcoin Mining Ghana. That’s right, Ghana has its first Bitcoin mining farm in operation. The company making the claim is local IT provider GDC: GHANA DOT COM.

The company further claims that this is the first Bitcoin mining operation on the African continent. Further, that it is already contributing hundreds of TH/s to the network.

Head of GDC, Mr. Nii Quaynor, is well known in Ghana’s technology community. Before serving with GDC he was behind one of the first ISPs in the country. He has also served a stint on ICANN’s board and even advised the UN on Internet governance.

#bitcoin start-up @21 rolls out payment software that unlocks virtual #currency for the masses http://ow.ly/ziig300w3Pa #fintech

— BitScan (@bitscanner) 25 May 2016

Mr. Quaynor is well versed in technology and has been involved in the internet since the early 90’s. So, in his announcement about the mining farm, it is not surprising that he would note similarities between the Internet, Bitcoin and blockchain technologies.

Mr. Nii Quaynor notes they (GDC) “…pioneered Internet development and will similarly promote bitcoin development in Africa.”

It seems that GDC are big believers in Bitcoin and the blockchain. As this investment would indicate. GDC are making moves to position themselves at the forefront of this industry, in Ghana and Africa.

Bitcoin Mining in Ghana and GDC

GDC has indicated it will be releasing more products soon, using Bitcoin and blockchain technology. As yet, no further details have been provided.

Ghana is one of the most developed and forward thinking countries in Africa. It is at the cutting edge of technology. In recent years Bitcoin has seen a healthy growth in interest and popularity. Certainly, it is not mainstream. However, the ecosystem is healthy, with exchanges, payment processors and, now, and Bitcoin mining farm.

Whether the farm will be competitive, and operations, long term, depends on many variables. The relative costs of cooling in a warm geography and electricity costs are a prime concern. We have discussed the factors and variables that affect the profitability of Bitcoin mining before.

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