How cheap power turned Libya into a Bitcoin mining hotspot

Libya’s cheap power fueled a hidden Bitcoin mining boom, straining the grid and forcing authorities into an escalating crackdown.

Libya’s cheap, subsidized electricity made it profitable to run even older, inefficient Bitcoin miners.

At its peak, Libya is estimated to have generated around 0.6% of the global Bitcoin hash rate.

Mining operates in a legal grey zone, with hardware imports banned but no clear law governing mining itself.

Read more