Terrahex wants to build Bitcoin mines around Nigeria’s stranded power

In May 2025, Olumayowa Ogunnusi was at a wedding in the United Kingdom when a conversation with a friend gave him an idea. After two decades working in oil and gas, he started looking closely at Bitcoin, the most popular blockchain-based digital currency, and its biggest operating cost: electricity.
“I was realising that the problem the industry faces is power. I’m getting cheap power, and I know where to find this power,” Ogunnusi told TechCabal in an interview.
He started thinking about oil fields the way he would think about a Bitcoin mine: what does it cost to produce something, and can you sell it for more than it costs to make?
That question became Terrahex , a high-performan...