Libya's subsidized electricity has spurred a significant Bitcoin mining boom, contributing approximately 0.6% to the global hashrate. This surge in mining activity has placed considerable strain on the country's power grid, prompting authorities to intensify their crackdown on illegal mining operations. The situation highlights the challenges faced by nations with low electricity costs in managing the unintended consequences of cryptocurrency mining.
Libya's Bitcoin Mining Boom Strains Power Grid Amid Crackdown
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