Libyan police liquidated several Chinese mining farms – Bits Media

Libyan law enforcement agencies announced, that the underground mining farms in the west of the country closed. According to the Prosecutor's Office of Tripoli, On farms were detained about 50 citizens of China.

Representatives of the prosecutor's office assure, that China citizens organized illegal Activities for the extraction of crypto assets at a metallurgical plant in the city of Zite. it, According to law enforcement agencies, caused significant damage to state and public interests.

IN 2018 The Central Bank of Libya has officially banned mining and the circulation of crypto assets in the country before the adoption of special national laws on regulation. However, the low cost of electricity in Libya is at the level $0,004 For a kilowatt-hour, makes the country attractive jurisdiction for cryptomining operations. Journalists of The New Arab conduct data, according to which Libya has to 0,6% world production of bitcoins. This is many times higher than the achievements of all other miners of the African continent.

Earlier, Bloomberg reported, that the protracted investigation of the corruption scandal with Petroleos de Venezuela and the subsequent ban on the production of cryptocurrencies inside the country led to the mass closing of local mining companies.