The Tengchong court ruled that the contract involved in a bitcoin "mining" contract dispute case is invalid

Tengchong Court concluded Tengchong’s first bitcoin “mining” contract dispute case, and ruled that the contract was invalid and rejected the plaintiff’s request for a huge investment payment. Among them, the court held that civil subjects engaged in civil activities must not violate the law or violate the principles of public order and good customs. In this case, the plaintiff and the defendant, on the grounds of signing the "Blockchain Server Cooperation Agreement", actually carried out bitcoin "mining" activities. Bitcoin "mining" is based on the premise of high energy consumption. Quality development is contrary to the goals of carbon peaking and carbon neutrality, as well as public interests. Judging from the high energy consumption of "mining" behaviors and the impact of Bitcoin trading activities on the national financial order and social order, the contract involved in the case should be invalid. As civil subjects, both the plaintiff and the defendant shall abide by the law when engaging in civil activities, and shall not violate the principles of public order and good customs. Otherwise, the corresponding losses arising therefrom shall not be protected by law, and the adverse consequences shall be borne by the parties themselves.