Bizarre: Chinese mine bitcoin in the deepest secrecy

Recently found one special discovery place in the Libyan city of Misrata. In a shielded room, the local police found a group of 50 Chinese secretly mining bitcoins goods.

Chinese secretly mine bitcoins

The Chinese were mining bitcoins on a large scale with self-built supercomputers, also known as ASIC miners. Everything took place in secret, in a shielded location. Bitcoin mining is in both China and Libya forbidden. The reason for this is the enormous amount of energy required to keep the supercomputers working.

This can overload the energy network. The local population is the victim of this if the power failure hinders their daily lives. Moreover, it is bad for the environment when polluting energy sources are used.

The covert operation was carried out in Libya because of its low energy costs. Such low bills are a great advantage for bitcoin miners, as the cost of electricity in some countries can exceed what is earned from mining. In Libya, energy is 50 times cheaper than in the Netherlands.

The country stands sixth in the world on the list of lowest energy costs. This is partly due to government subsidies. However, mining bitcoins by immigrants is not what the government has in mind with the subsidies.

Illegal bitcoin mining big problem in Libya

In Libya, illegal bitcoin mining is a major problem. It is suspected that plenty of bitcoins are also being mined in Libya’s other major cities. According to a Arabic newspaper Prime Minister Abdul Hamid Dbeibeh claimed that crypto miners are tapping between 1,000 and 1,500 megawatts from Libya’s energy grid.

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Administration of Libyan energy companies is not exactly impressive and that makes tracking even more difficult. It is speculated that the city of Benghazi and Tripoli, the capital of Libya, are heavily mined by both individuals and criminal gangs. Whether the group of Chinese also belongs to a gang is still being investigated.

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