In a surprising turn of events, an illegal cryptocurrency mining operation in Libya has been exposed, resulting in the arrest of 50 Chinese nationals. The Libyan attorney general’s office released visual evidence, showcasing the mining campus located in Zliten. Prior to this, ten individuals associated with the operation had already been apprehended. The attorney general’s office expressed concern over the operation, stating that it violates the law and utilizes high-energy devices to mine cryptocurrencies. Libyan officials are now seeking experts to assess the impact on the public interest. While the number of dismantled machines has not been disclosed, it has been revealed that the mining systems included a complex network of wires connecting various equipment.
Despite the prohibition on cryptocurrency mining in Libya, the country remains an attractive location for miners due to its favorable energy conditions, with electricity costs as low as $0.004 per kilowatt hour. It is worth noting that even though crypto mining is banned both in Libya and China, the two countries have still managed to contribute significantly to global mining activities. Libya, in particular, achieved the highest Bitcoin production rate among all African regions in 2021.
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