50 Crypto Miners Arrested by Authorities in Libya: Details

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According to recent reports, the prosecution in Tripoli, Libya, announced on Thursday that 50 Chinese nationals have been detained by Libyan authorities. In addition to the arrests they have blown up a crypto mining facility in the west of the country.

Mining Farms Discovered in Zliten, Libya

A farm in Zliten, some 160 kilometers east of the capital, was searched by interior ministry officers who discovered “minors exploiting significant material capacity to generate virtual currencies with the help of 50 Chinese nationals,” according to prosecutors in Libya. The suspects were detained, the statement read.

A video sent on the Tripoli prosecutor’s office Facebook page shows a number of buildings with no windows but hundreds of industrial fans, as well as a sizable amount of computers and gear.

These sites, which often run nonstop, need powerful servers, a reliable internet connection, and pricey hardware. However, sluggish internet and power outages are common in war-torn Libya.

A Second Farm Found in Libya Earlier this Week

This information was released a day after prosecutors said that police had destroyed a second illicit crypto-mining farm in the coastal city of Misrata. They added that 10 Chinese nationals were responsible for its operation.

Bitcoin mining, the most well-known cryptocurrency in the world, uses around 1,150 kWh of power, according to tech watchdog Digiconomist. 

Regulators Aim to Restrict Crypto Mining Activities

Notably, many of the nations have outlawed cryptocurrency mining, including China, which prior to outlawing it in June 2021 had led the world in producing virtual currency. 

Last year, Russia’s central bank had been reported to be upholding its ban on crypto mining, despite the fact that the CBR had received a massive reaction over its intended plan. The Swedish central bank also proposed a ban on Bitcoin and PoW crypto mining back in June of last year.

Crypto Mining Ban in New York

Additionally, in November 2022, the governor of New York approved laws imposing a two-year ban on cryptocurrency mining activities in the state. The regulations restrict the Environmental Conservation Law permit from being granted for two years to businesses that confirm blockchain transactions using proof-of-work authentication techniques.

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