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How cheap power turned Libya into a Bitcoin mining hotspot...
19 Dec, 2025 07:26 226 min read
You would find that Libya became an unlikely Bitcoin mining hotspot by exploiting some of the world's cheapest subsidized electricity, which made even inefficient old rigs profitable. This operation, which at its peak accounted for 0.6% of the global hash rate, thrived in a legal grey zone where the activity itself wasn't explicitly banned. However, you would now face a severe and escalating government crackdown, as authorities directly link the clandestine farms to the country's crippling power shortages. The recent prison sentences for miners and large-scale raids serve as a stark warning if you're considering similar operations in other fragile states with weak grids and subsidized energy.... More