No more cheap electricity for Inner Mongolian crypto miners, officials say

Officials from Inner Mongolia are mulling an electrical policy that would prevent cryptocurrency miners from using inexpensive, state-subsidized electricity.

Per the Inner Mongolia Electric Power Group Co, the region expects to recover around 6.732 billion yuan ($977 million) in taxes and fees thanks to these new measures. They additionally expect 4.836 billion yuan ($702 million) specifically from crypto mining activities.

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