South Africa’s struggling state power utility, Eskom, is reportedly exploring ways to link its vast electricity infrastructure with the world of Bitcoin – not by magically minting wealth, but as part of a broader strategy to find new revenue streams and manage grid pressures.
At the heart of the conversation are two persistent challenges:
Eskom’s deteriorating financials and
A grid that, despite periods of relative calm, remains fragile after decades of underinvestment, plant breakdowns and rolling load shedding.
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From Power Supply to Crypto Speculation
According to industry reports, Eskom’s leadership has acknowledged interest in Bitcoin mining and other energy-intensive technologies, including artificial intelligence data centres, as potential future revenue sources. These ideas have been floated at conferences and in investor presentations as Eskom looks beyond traditional tariffs.
Proponents argue that Bitcoin mining could, in theory, serve as a flexible load sink consuming surplus generation during low demand periods and potentially helping balance the grid through controllable demand. But this is still highly speculative with no confirmed plans, timelines, or regulatory approvals.
What Eskom is actually doing at this stage appears limited to early technical and commercial exploration.
BITCOIN IN ETHIOPIA |
EEP (Ethiopia Electric Power) revenue from Bitcoin mining for the last year estimated to be $220 Million.
The internal distribution of electricity reveals how Ethiopia’s economic priorities are shifting. #Bitcoin #Ethiopia $BTC pic.twitter.com/u0QZ15iPTK
— BitKE (@BitcoinKE) August 9, 2025
Why Bitcoin Isn’t a Grid Fix (Yet)
South Africa’s electricity system isn’t operating from a position of surplus. Despite some improvements in generation availability, Eskom still faces:
Structural grid instability, with load shedding remaining a spectre even in quieter months due to unplanned outages and aging infrastructure.
A generation mix dominated by coal and constrained transmission capacity, making real flexibility a challenge.
Diesel-powered peaker plants and open-cycle gas turbines used to prevent supply shortfalls during peak demand, a costly necessity rather than an optional extra.
In this context, Bitcoin mining might theoretically offer a controllable, interruptible load that could help with load balancing but it’s not a proven solution to grid stability, nor is it a guaranteed new earnings engine. The idea remains in the realm of speculation and exploratory discussion, rather than concrete utility policy.
Any discussion of Eskom and Bitcoin can’t be separated from the wider South African energy crisis. The country has battled rolling blackouts for nearly two decades, and while load shedding has eased at times, the underlying pressures on generation and transmission persist. Structural deficiencies, maintenance backlogs and financial constraints still shape how Eskom operates and what it can realistically take on.
Precedent Across Africa
This isn’t unique to South Africa. Many utilities globally are exploring creative ways to monetise excess capacity or stabilise grids with flexible loads and emerging technologies.
In 2022, it was reported that Kenya’s largest state energy company, KenGen, was looking at setting up an energy park to allow bitcoin mining companies to set up operations and take advantage of the competitively-priced geothermal steam.
KenGen, Kenya’s Largest State Energy Company, to Supply Clean Energy for Bitcoin Mining
In 2024, it was reported that the Kenya government had entered into an agreement with Bitcoin mining company, Marathon Digital, to capitalize on the nation’s under-utilized energy resources.
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In 2024, Ethiopia became a focus for Chinese bitcoin miners attracted by cheap energy linked to the country’s and Africa’s largest dam, the Grand Ethiopian Renaissance Dam (GERD). As of January 2025, bitcoin miners in Ethiopia accounted for 2.25% of the total bitcoin mining hashrate.
LIST | A Look At the 10 Key Milestones Behind Ethiopia’s Rise As a Bitcoin Mining Haven in 2024
However, for now, Eskom’s flirtation with Bitcoin remains preliminary commentary, not a throttled-up industrial strategy.
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