Bitcoin Mining in Vietnam Must Pay Business Electricity Price
EVN will apply the highest electricity price for cryptocurrency mining activities in Vietnam, 4,233 VND per kWh.
The Ministry of Industry and Trade has just issued a document guiding the Vietnam Electricity Group (EVN) and power corporations to implement electricity prices for customers with virtual currency mining computer systems as follows:Bitcoin, Litecoin, Ethereum...
Accordingly, this agency requires the electricity industry to apply retail electricity prices to customers with computer systems that decode and mine virtual currency through software.pre-programmed. The operator said the decision was made after consulting with the State Bank.and the Department of Justice.
""EVN is requested to direct power corporations to apply electricity prices for business purposes for decoding and mining these virtual currencies," the document of the Ministry of Industry and Trade signed by Deputy Minister Hoang Quoc Vuong stated.
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Graphics cards (GPUs) used for cryptocurrency mining. |
Currently, the retail price of business electricity is about 2,461 VND per kWh during normal hours, 1,497 VND per kWh during off-peak hours and 4,233 VND per kWh during peak hours.
According to the report ofPower Compare - an organization specializing in research on electricity consumption based inIn the UK, the total amount of electricity needed to “mine” bitcoin, as well as maintain the algorithmic processing and transactions on the blockchain, is even more than 159 individual countries, including more than 20 countries in Europe.
According to Digiconomist, Vietnam's electricity consumption is currently estimated at 163 terawatt hours per year, more than 5 times the amount of electricity used for Bitcoin mining machines globally.
Bitcoin is a decentralized digital currency, issued by a person (or group) under the pseudonym Satoshi Nakamoto. It can be exchanged directly using an Internet-connected device without going through a financial intermediary. All purchases and sales are updated on a peer-to-peer computer storage system, called the blockchain - an electronic "ledger" that records the balance of each account and the history of all previous accounts involved in transactions.
.jpg "Mạo danh EVN – Bẫy tinh vi và cách thoát hiểm")
