🔌 Libya's Cheap Power Fueled a Hidden Bitcoin Mining Boom - Until the Grid Couldn't Keep Up

Authorities in Libya have reportedly cracked down on a large-scale, hidden Bitcoin mining operation that was made possible by the country's heavily subsidized electricity.

Estimates suggest the illegal mining farms were responsible for approximately 0.6% of the global Bitcoin hashrate. The immense energy draw placed significant strain on Libya's national power grid, leading to the government's intervention.

This situation highlights the complex intersection of energy policy, economic incentives, and the global footprint of cryptocurrency mining.

What's your take on the use of subsidized energy for crypto mining? Share your thoughts below.

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