Leading polysilicon company in Xinjiang fined over 100 million yuan for illegally supplying power to virtual currency mining

GateNews

2026-03-26 10:57:38

Gate News reports that on March 26, a leading polysilicon company in Xinjiang (a core raw material for the semiconductor and photovoltaic industries) was fined and had its illegal gains confiscated by regulators for illegally supplying power to virtual currency mining activities. The total penalty exceeded 100 million yuan. It is understood that local authorities are intensifying supervision of virtual currency mining, requiring comprehensive inspections and strictly prohibiting companies from illegally reselling power in any form. Currently, Xinjiang has explicitly classified virtual currency mining as an industry to be phased out, and related enforcement actions are ongoing.

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