China’s National Development and Reform Commission (NDRC) on Nov. 16 announced that it will impose “punitive electricity prices” on some cryptocurrency miners.
In a press conference, Meng Wei, spokesperson for NDRC, stated that the measure will be imposed on companies that mine crypto and only pay residential electricity prices. In addition, industrial-scale mines and state-owned firms involved in mining will be key targets of the disciplinary action, Meng said.
