Hainan has listed virtual currency "mining" activities as an eliminated industry and implemented differentiated electricity prices at 0.8 yuan per kilowatt-hour.

New Hainan Client, Nanhaiwan.com, and Nanfang Metropolis Daily reported on December 3 (Reporter Wang Ziyao) According to the spirit of the "Notice on Regulating Virtual Currency "Mining" Activities" issued by the National Development and Reform Commission and 11 other ministries and commissions, in order to regulate virtual currency "mining" activities and promote energy conservation and emission reduction, the Hainan Provincial Development and Reform Commission issued the "Notice on Issues Concerning the Implementation of Differentiated Electricity Price Policies for Virtual Currency "Mining" Electricity Consumption" (hereinafter referred to as the "Notice") on the 3rd, deciding to list virtual currency "mining" activities as an eliminated industry, implement differentiated electricity prices, and the surcharge standard is 0.8 yuan per kilowatt-hour (per kilowatt-hour).

The Notice proposes to strengthen supervision of the power market order, strengthen the screening of users who directly participate in power market transactions, and not allow virtual currency "mining" users to directly participate in power market transactions under any name, and not allow virtual currency "mining" users to enjoy power market concessions in any way. Virtual currency "mining" users who have directly participated in power market transactions must withdraw within a time limit and let the power grid companies purchase electricity on their behalf (because it is a policy withdrawal, the price will not be 1.5 times the price that the power grid companies purchase electricity on behalf of other users).

The "Notice" requires that the Hainan Power Grid Company should make careful arrangements to ensure that the differentiated electricity price policy is strictly implemented and that virtual currency "mining" users are charged the surcharged electricity fees in a timely and full manner.