Xinhua News Agency: We must not allow high-energy-consuming "mines" to squeeze out precious resources

Xinhua News Agency published an article saying that "air coins" are like air, invisible and intangible, without physical support and without application value. Once the price of such speculative targets collapses and the tide recedes, investors will only suffer huge losses and regret.

Virtual currency mining requires the help of computer calculations, and the "mining machines" used for mining must have extremely strong data processing capabilities and generally have high power. In order to mine virtual currency for money as soon as possible, "miners" gather many "mining machines" to form a "mine" and dig day and night, so the electricity consumption is huge. To crack down on virtual currency mining, not only does it require local governments to take the initiative to issue documents to stop mining and cut off the increase; it also requires the introduction of comprehensive measures including electricity prices, land, taxation, environmental protection, etc., to promote the orderly exit of existing enterprises.