Hainan increases electricity bills to limit mining industry, did I pay 270,000 euros for my bitcoin?

In order to limit mining and destroy the demand for profit, Hainan began to increase its weight by marketing tools.

On December 3, the Hainan Province Development and Reform Commission issued a "Notice of Compliance Problems with Various Electricity Charges for Virtual Currency." who have decided to use virtual mining has been classified as commercial removal, the incremental electricity costs have been met, and the increasing cost is 0.8 yuan per kilowatt hour.

According to "Lianxin", the price of electricity and gas in Hainan in December was 0.5 RMB-1 RMB, adjusted according to the timing and situation of electricity consumption. The increase of 0.8 RMB per kilowatt hour corresponds to a rate of 80%. nce.

However, when this law came into effect, a controversy erupted among internet users, leading to speculation that Hainan was only legally operating mines.

In this case, according to interviews with staff, “Yeonsin” found it to be wrong. It is certainly an approach aimed at improving the market by the fact that there is no direct expression of "liquid", but in the context of the market, the company will be unprofitable or even at a loss. .

Rising electricity bills and unnecessary mines?

Hainan was the first in China to use different electricity bills for mining.

Hainan holds a strong position in the blockchain and digital services industry, and is now the only province in China to test the digital renminbi.

Compared with other provinces and cities, Hainan's recovery process is only simple with three products. First of all. to ensure implementation.

Indeed, the province of Hainan does not use different electricity tariffs to repair mining operations, but mentioned in the "Virtual currency innovation notice" Mining "Operations" which is compatible published by the National Commission of Development and Reform and other agencies on September 24. Agreement: “Includes plans to 'exploit' virtual benefits under electricity tariffs. Policy and use of “eliminations” of utility tariffs. The rate of increase is 0.30 RMB per kilowatt hour. The zones will increase further. Increase the model according to the actual situation. "

However, this method is not used later when the report removes the virtual result.

Currently, Fujian, Guiyang, Sichuan, Yunnan, etc. are constantly looking for a regular treatment for mining and have resolutely achieved the goal of "depollution". Leadership means wanting to increase electricity bills.

However, an industry insider said, “If electricity prices exceed 80 cents per kWh and industrial electricity prices are strictly adhered to, it is difficult to make money from the bitcoin mining, exchange rate volatility and income from bitcoin mining is difficult The risk is very high.

The "new chain" is estimated by two market miners, and if the price of electricity is 1.5 RMB per kilowatt, it will cost 160,000 RMB and 270,000 RMB to mine Bitcoin, and the current price of Bitcoin is around 30 million yuan. If you look at the cracks, you can see that the huge source of income for cryptocurrency mining no longer exists. In addition to the cost of mining, rental, maintenance, etc., in addition to the increase and loss of virtual profits, you can lose money. .

In order to achieve the different electricity tariffs, the Hainan Province Development and Reform Commission also said that virtual "mining" users can not directly participate in the electricity industry, and advantages Virtual "mining" users cannot take advantage of them. Build a power company somehow and need Hainan Power Grid Corporation. Plan carefully to make sure differences in utility bills are strictly regulated.

Ten states have proposed cryptocurrency mining reforms.

In the past, many mines have been recovered in the Chinese provinces of Sichuan and Inner Mongolia, among others. The main reason is the cost of electricity as low as RMB 0.3 per kilowatt hour and many mines are produced directly by small power plants. Hainan provincial rate increased by RMB 0.8 Preventing mining users from directly participating in the electricity trade is equivalent to deducting their wages from the bottom of the reservoir.

On May 21, 2021, the State Security, Economy and Reform Commission held a meeting and stressed that it will destroy bitcoin mining and trading and decide against the risk of self-harm in a relationship. This is the first time that the State Council has explicitly declared violations of Bitcoin mining and trading. Subsequently, Inner Mongolia, Qinghai, Xinjiang, Yunnan, Sichuan and other regions completed the policy of cryptocurrency mining.

On September 24, the National Development and Reform Commission and 11 other agencies jointly issued the “Virtual Financial Management Notice” “Mining Activities” to review the importance of regulating mining activities and as an assessment virtual currency. . Special provisions such as investments in "mining" projects, construction of new projects and the accelerated exit of existing projects are strictly prohibited.

According to statistics from "Lianxin", as of December 2, 10 states have explicitly declared to reform cryptocurrency mining.

Some netizens believe that processing mining process in Hainan Province is equivalent to mining license, but only pay higher cost from repair process point of view. However, according to industry analysts, Hainan Province only uses market-oriented methods to improve cryptocurrency mining, and the purpose of mining liquidation is the same as that of mining. 'State. .