Low-cost Libya becomes regional centre for energy intensive bitcoin mining operations
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Libya is emerging as the centre for Bitcoin mining operations in the Arab world, despite the recent conflict in the country and a central bank ban on the virtual currency. Living conditions and the economic situation in the nation continue to deteriorate, and the Central Bank of Libya warned citizens that cryptocurrencies, such as Bitcoin or Ethereum, carry considerable risk. The rising popularity of bitcoin mining is believed to be linked the incredibly low cost of electricity in Libya. Mining bitcoin requires huge amounts of computational power, which in turn requires large amounts of electr…

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