Libya cracks down on crypto mining amid energy crisis

Libya’s authorities have intensified a crackdown on illegal cryptocurrency mining, according to Maghrebi Week on December 15. The industry has expanded despite a 2018 central bank ban, turning the country into Africa’s and the Arab world’s leading Bitcoin producer.

Prosecutors sentenced nine individuals to prison for operating mining equipment in a steel factory, as officials warn the activity is draining up to two per cent of national electricity output amid widespread power outages.

The surge in mining is contributing to Libya’s worsening energy and water crises, with cooling demands placing additional strain on already fragile infrastructure.

Maghrebi Week