[Hunan court ruled that the virtual currency "mining machine" transaction contract is invalid, and the relevant losses shall be borne by both parties] On November 19, the People's Court of Jiahe County, Hunan Province recently made a judgment on a major mining machine transaction dispute. The case shows that the plaintiff Pan Mouxiang communicated with the defendant Lei Moucai through WeChat in November 2021 to purchase the Bitcoin mining machine S19XP. After paying 23.678 million USDT, the two parties disagreed on the nature of the contract and the settlement price. The plaintiff asked the defendant to return the difference of 6.27 million USDT and continue to deliver 149 mining machines. The court ruled to dismiss all the plaintiff's claims, mainly based on two reasons: First, according to the central bank and other departments (Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation), virtual currencies such as USDT do not have legal currency status, and related transactions are illegal financial activities; secondly, according to the National Development and Reform Commission (Notice on Rectifying Virtual Currency "Mining" Activities), mining machine mining activities have high energy consumption, high carbon emissions, and low economic contribution, which are not in line with the national green development strategy. The court determined that the transaction contract was invalid because it violated laws, regulations and public order and good morals, and that the relevant losses were borne by both parties.