Hainan lists virtual currency “mining” activities as eliminated industries and implements differential electricity prices-Digital Currency / Blockchain

On December 3, the Hainan Provincial Development and Reform Commission issued the “Notice on Issues Concerning the Implementation of the Differential Electricity Price Policy for the “Mining” of Virtual Currency”,It was decided to list virtual currency “mining” activities as an outdated industry, and implement differential electricity prices, with a price increase standard of 0.8 yuan per kilowatt hour (per kilowatt-hour of electricity).

The “Notice” proposes to strengthen the supervision of power market order, strengthen the screening of users who directly participate in power market transactions, and do not allow virtual currency “mining” users to directly participate in power market transactions in any name, and virtual currency “mining” is not allowed Users enjoy the power market concessions in any way. Virtual currency “mining” users who have directly participated in power market transactions need to withdraw within a time limit and switch to power grid companies to purchase electricity as an agent (because it is a policy exit, the price is not 1.5 times the power purchase price of other users on behalf of the grid company implement).

The “Notice” requires Hainan Power Grid Corporation to make careful arrangements to ensure that the differential electricity price policy is strictly implemented, and to charge users of virtual currency “mining” in time and in full. (Wei An, CCTV reporter)