Nearly 8000 Mining Rigs to be Imported

The Ho Chi Minh City (HMC) Customs Department has revealed the number of mining rigs which are on the list to be imported during the first 3 weeks of January.

Nguyen Thanh Tuyen, the deputy director of the customs department, told the HMC Law Department on January 24 that between January 1 and 23, a total of 7,932 mining rigs are waiting to be customs-cleared, Tuoi Tre reported.  He added that the total value of these rigs is »nearly $12.3 million…[and] the amount of tax paid to the [city’s] funding is nearly 28 billion dong [~$1.23 million]. »  Tianphong elaborated:

Currently, the purchase price of bitcoin mining rigs is high, from 70 to 80 million [VND]; some places even [sell them for] around 100 million [VND] each machine.

The publication noted that mining rigs are imported from China, adding although they cost approximately 20-25 million dong each but were sold dong each in 2016.  By mid-2017, »that the price of mining rigs increased to VND 45-60 million each machine and at present, although the purchase price of bitcoin diminished, the purchase price of mining rigs still increased to VND 80-90 million each machine, » the publication added.

News and bitcoin gaming and casino games.Bitcoin. Com reported that a total of 7,005 known mining rigs were imported in 2017. The majority of them, 5,527 rigs, were imported between November and December 21.  Only 1,478 rigs were announced entering the country between January 1 and October 31 of last year, according to the HMC Customs Department.

No Regulations Yet

Tuyen explained that mining rig imports and mining operations in the city are »still normal because there are no regulations for the import of these products, » Tianphong quoted him. Presently, »the State Bank has verified that bitcoin and other similar virtual currencies aren’t legal means of payment in Vietnam » and residents using them as such »will be fined 150-200 million [VND], and may be subject to criminal prosecution from January 1, 2018, » the novel highlighted.

Nguyen Hoang Minh, deputy director of the State Bank’s HMC branch, was quoted saying:

Currency generally, and bitcoin and litecoin in particular, are not currencies and are not means of payment under the law.

What do you think about the Vietnamese mining industry growing so quickly?  Let us know in the comments section below.

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