China’s NDRC to Consider Punitive Electricity Prices for Crypto Mines

China’s NDRC to Consider Punitive Electricity Prices for Crypto Mines
China’s National Development and Reform Commission (NDRC), said on Tuesday that in the next stage of its crypto mining crackdown it will consider “punitive electricity prices” for some crypto mines.The country’s top economic planning body might implement this measure for companies that mine crypto, but only pay residential electricity prices, said NDRC’s Meng Wei in a press conference, according to China.com, a news site run by the State Council Information Office.The NDRC will focus on industrial scale mines and state-owned entities that mine crypto and is calling on local governments to take care of mining within their jurisdictions, Meng said.Meng…