Xinjiang's Leading Polysilicon Company Fined Over 100 Million Yuan for Supplying Power to Mining Operations

Odaily News: A leading polysilicon company in Xinjiang has been fined over 100 million yuan in total, including confiscation of illegal gains, by regulatory authorities for illegally supplying electricity to virtual currency mining activities. The relevant rectification background indicates that local authorities are intensifying supervision over virtual currency mining, requiring comprehensive inspections and strictly prohibiting companies from illegally reselling electricity in any form. Currently, Xinjiang has explicitly classified virtual currency mining as an industry to be phased out, and related law enforcement actions are continuously advancing.