Electricity prices for Bitcoin digging in Vietnam will be applied

The Ministry of Industry and Trade has issued official dispatches guiding the selling prices of electricity for decoding and exploitation ...

The Ministry of Industry and Trade has issued official dispatches guiding the selling prices of electricity for decoding and exploitation of coded currencies. Accordingly, the ministry said Bitcoin digging will be charged for electricity business.


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Cause since 2017, the Ministry has received a written request for guidance on the price of electricity sold to customers using electricity with automatic data processing systems for decoding and exploiting money. such as Bitcoin, Litecoin, Ethereum and some similar currencies.

This issue has been consulted with the State Bank on the legitimacy of decoding activities, exploitation of electronic money and the Ministry of Justice on the implementation of electricity prices for customers using the system. Automatic data processing machine for electronic money decoding.
Accordingly, the Ministry of Industry and Trade said that the activities of decoding, exploiting virtual currency such as Bitcoin, Litecoin, Ethereum and some other similar electronic money through software has been programmed on the computer system processing Automated data is the service of the algorithm through the algorithm to verify the purchase transaction on the network.
Therefore, the electricity used for this activity is subject to the retail electricity price for business purposes. Therefore, the Ministry of Industry and Trade proposed Vietnam Electricity to direct the Electricity Generating Corporation to apply the electricity selling price for business purposes for this activity.
Currently, the retail price of electricity is being applied on the market today is about 2,461 VND / kWh from 1,497 (low hour) - 4,233 VND (at peak time).
Meanwhile, the price of electricity is VND 1,549 / kWh - VND 2,701 / kWh for the highest cumulative.

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High Tech Brain: Electricity prices for Bitcoin digging in Vietnam will be applied
Electricity prices for Bitcoin digging in Vietnam will be applied
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High Tech Brain
https://www.hightechbrain.com/2018/03/electricity-prices-for-bitcoin-digging.html
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