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Senegal’s government has approved a pilot Bitcoin mining project under the prime minister’s office that will use surplus renewable energy, as the country moves to restructure external debt with public debt nearing 130% of GDP.
The project aims to convert stranded renewable energy in rural areas into power for Bitcoin mining to secure the U.S. dollar funding the country needs and support the expansion of rural power grids. In effect, Bitcoin miners would serve as the final buyers of surplus electricity.