*Dušan Matuška, Co–founder and CBO of AmityAge*

What started in the mountainous region of Orava has now expanded to South America and Africa. AmityAge is redefining what it means to run a global mining business. From harnessing hydropower in Paraguay to building partnerships in Ethiopia, our journey is one of adaptation, ambition, and smart global scaling.

Why Paraguay?

The decision to move mining operations from Slovakia to Paraguay was strategic. The country offered some of the most affordable electricity prices in the world, thanks to the Itaipu Dam – one of the largest hydroelectric plants globally. AmityAge established a facility near the dam with 600 specialized mining computers running entirely on clean hydropower.

But change came quickly. Within a year, the Paraguayan government raised import tariffs on mining equipment and increased electricity prices for miners. This shift disrupted the business model for many local miners. While some resorted to circumventing regulations or mining illegally – many having their equipment seized – AmityAge chose a different path.

We always strive to operate transparently and within the law. We began looking for new regions with better long-term conditions for growth, while also diversifying our risk.

Why Ethiopia?

After considering countries like Indonesia, Kenya, Ghana, Ethiopia emerged as the most promising location. Why?

Extremely low electricity costs, among the lowest in the world.
Over 90% of the country’s electricity comes from hydropower, making it both sustainable and emissions-free.
The upcoming Grand Ethiopian Renaissance Dam, soon to be the largest hydroelectric power station in Africa.
An energy surplus, due to low local demand and minimal industrial development.

There’s also a financial angle: the Ethiopian currency, the birr, suffers from high inflation and is rarely accepted internationally. Ethiopia is therefore eager to attract foreign businesses that can bring in hard currency like US dollars.

This creates a win-win situation. We pay for electricity in dollars, and they gain much-needed foreign currency. It’s the perfect alignment of interests.

Building a New Mining Hub

We partnered with an experienced Chinese operator already well-established in Ethiopia. Together, we selected a site at an old textile factory with over 20,000 mining machines and a capacity of 80 megawatts. The partner had even built a 3-kilometer power line to bring the facility back to life.

Today, AmityAge is expanding its operations there, installing 1,200 new mining machines – bringing their total under management to over 2,200, or nearly 10 megawatts of computing power.

Contrary to popular assumptions about Africa's climate, Ethiopia offers surprisingly cool conditions. Much of the country lies at high elevations – Addis Ababa, for example, sits at 2,300 meters above sea level – keeping average temperatures around 26°C or lower in their chosen location.

A Global Business Philosophy

AmityAge now operates in multiple countries and continues to evolve its structure for long-term stability. Our business headquarters is currently based in Próspera, a special economic zone on Roatán Island in Honduras. However, due to political pressure and legal changes within the country, we are also considering moving part of our structure to more secure jurisdictions – like Gibraltar, known for its forward-thinking crypto legislation.

Scaling Up and Looking Ahead

AmityAge began in Slovakia with just over 100 mining machines, roughly 0.5 MW of power. We doubled capacity in the Czech Republic, grew to 5 MW in Paraguay, and are now nearing 10 MW with the new expansion in Ethiopia. Roughly 25% of our machines are owned outright; the rest are managed on behalf of clients, with AmityAge providing essential infrastructure like power, cooling, and maintenance.

Looking forward, we have ambitious plans for further expansion. A new logistics expert from India has joined the team, and we’re eyeing new markets: Finland, Abu Dhabi, Oman, and Perth in Australia are all on the radar.

*Ariana Dixon, Dušan Matuška and Sunil Kumar – our new logistics expert*

Institutional Momentum and Bitcoin's Evolution

Bitcoin’s future is being shaped by major institutions and is slowly assuming a role similar to gold: a trustworthy store of value. Price volatility remains, but the global sentiment is overwhelmingly positive.

And as for real-world usability? Thanks to the Lightning Network, Bitcoin transactions are now near-instant and irreversible – perfect for e-commerce, where traditional payments can be reversed for weeks.

The tech is ready. Using Bitcoin is faster and more secure than using a credit card. It’s just a matter of time before people catch on.

From Slovakia to the World: How AmityAge is Mining Bitcoin Across Continents