🚀 Africa’s Crypto Rollercoaster: Ethiopia’s Mining Gold Rush, ViFi Labs’ Power Move, & Algeria’s Ban Hammer
Ethiopia's crypto mining sector is printing money—while Algiers slams the door shut. Meanwhile, ViFi Labs just swallowed OneRamp whole. Here's the breakdown.
Ethiopia: The New Mining Mecca?
Addis Ababa's hydro-powered mining farms are quietly becoming Africa's dirty little secret—dirty with profit, that is. No official numbers yet, but whispers suggest revenue growth that'd make a Silicon Valley VC blush.
ViFi Labs Eats OneRamp
Another day, another crypto acquisition. ViFi Labs just absorbed OneRamp in a deal that reeks of 'growth hacking'—because actual innovation is so 2021.
Algeria Goes Full Luddite
While Ethiopia mines the future, Algeria just banned crypto like it's 2008 and they're saving us from mortgage-backed securities. Banks win again—shocking.
Africa's crypto scene? Two steps forward, one step back—but always more interesting than Wall Street's ETF snoozefest.
BTC ▲0.59% mining boom in Ethiopia is driving record revenue for the state electricity company. Up north, Algeria has taken the unfortunate stance of banning all crypto-related activities.
These, and more stories, make the continental headlines for the week:
South Africa Crypto News: Tokenization, Acquisition, And Crypto Conferences
South African crypto exchange VALR has launched tokenized U.S. stock trading on its platform, making it the first African exchange to provide users access to U.S. equities markets.
Users can now trade xStocks, a representation of U.S stocks on the solana blockchain.
SolanaPriceMarket CapSOL$98.30B24h7d30d1yAll time
The xStocks token, created by Backed in May, allows VALR users to track their favorite U.S. stocks, such as Tesla and Amazon, with the convenience of crypto trading.
VALR goes live with xStocks, pioneering tokenized U.S.-listed equities in South Africa and the continent.#ProTradingForEveryone #MoneyForTheWorld pic.twitter.com/3AvQtBIARQ
— VALR (@VALRdotcom) July 31, 2025
Meanwhile, Peach Payments and Moneybadger have partnered. Peach Payments aims to leverage its first deal with a crypto service provider to offer more choices to its consumers.
Millions of South Africans now own crypto and make payments using VIRTUAL assets. Peach Payments aims to attract users interested in using this utility for crypto payment options.
Bitcoin Events has also announced that Blockchain Africa Conference 2025 and CryptoFest 2025 will occur in South Africa. The Blockchain Africa Conference will be held in Johannesburg on October 30, 2025, while CryptoFest is scheduled for mid-November in Cape Town.
Algeria Crypto News: Sweeping Ban on Crypto
The Algerian government has enacted a comprehensive ban on all digital asset activities to protect the national currency.
Algeria has officially banned all crypto-related activities. It is now treated as a financial crime under anti-money laundering and anti-terrorism laws.
Hard to believe that in 2025, some African countries still view crypto as a crime. pic.twitter.com/gE9dnLO2yu
— Specter (@SpecterAnalyst) July 31, 2025
The ban, effective July 24, 2025, was announced through a publication. Cited reasons include combating terrorist financing, preventing fraud, and curbing unwarranted speculation.
These measures place Algeria at the end of the spectrum, as most countries permit crypto activities within regulated frameworks.
DISCOVER: Top 20 Crypto to Buy in 2025
Uganda Crypto News: ViFi Labs Acquires OneRamp
Decentralized protocol ViFi Labs has acquired Ugandan platform OneRamp, a rising player in local crypto payments.
ViFi aims to strengthen its foothold in strategic African markets and expand to Latin America.
We're excited to announce we've acquired @0xOneRamp !
The platform makes it easy for people to spend crypto for day-to-day purchases, blurring the gap between the complexity of stablecoins and fintech payments.
Here's why
pic.twitter.com/a84thDYggu
— ViFi Labs (@ViFi_Labs) August 5, 2025
OneRamp distinguishes itself by enabling seamless stablecoin integration with mobile money platforms and bank accounts, facilitating easy crypto payments for everyday services.
Sub-Saharan Africa has seen impressive mobile money adoption, which could drive broader crypto use. ViFi Labs plans to leverage this growth for its regional expansion efforts.
Ethiopia Crypto News: Bitcoin Mining Powers Energy Revenue Boom
The Bitcoin mining sector in Ethiopia is driving massive revenue to the state electricity company.
Ethiopia Electric Power reportedly earned an additional $55 million over the past 10 months from mining activities, supporting rural electrification efforts.
The surplus hydroelectric power exceeds local industrial demand. bitcoin mining, often criticized for its energy consumption, provides a ready market for this excess power.
This situation creates a win-win, demonstrating that Bitcoin mining can be sustainable in locations with favorable power dynamics.
Africa Crypto News: Ethiopia Mining Boom, Algeria Crypto Ban
- Ethiopia crypto news: Bitcoin and crypto mining boom generates record revenue for state electricity provider
- Uganda crypto news: ViFi Labs acquires OneRamp, enhancing stablecoin integration for mobile money
- Algeria crypto news: Government enacts sweeping ban on crypto activities, citing fraud and terrorist financing concerns
- South Africa crypto news: VALR tokenizes U.S. stocks on Solana
