On Valentine’s Day, there’s a piece of notice showing on the official website of the People’s Government of Zhejiang Province: Their Development and Reform Commission Department is requesting to charge a different higher power rate for crypto mining.
In the year 2021, the Chinese government banned all the crypto activities in China and some crypto mining cases and trades were filed as illegal activities.
Zhejiang is not the first city in China to charge a higher power rate to crypto mining activity. In early February, Mogolia also announced the same policy.
It seems good news for Chinese miners. But not all miners are happy with the policy, as some miners and even big companies have been moving out of China due to the earlier negative policy, and they cost a lot on the movement. Right now they are feeling confused about the policy, and we can imagine what a dilemma the Chinese miners are facing right now.