Why Africa is crypto’s next frontier 

“Bitcoin mining is like pouring water on an even floor. It will always go to the lowest point,” says Erik Hersman, a tech entrepreneur in Nairobi, Kenya’s capital, explaining how the energy-intensive activity of creating, or “mining”, the digital currency gravitates to places with the cheapest power costs. Until 2021 the Dead Sea for bitcoin was China, before the government banned it, citing the environmental harm it causes. The proverbial water swiftly flowed to America, with its plentiful supply of cheap energy and deep capital markets. Profits soared. Within months America accounted for a third of global bitcoin production.