2,000 megawatts of excess electricity in Pakistan will be used to support Bitcoin
The idea of using surplus electricity for Bitcoin mining was first discussed at a council meeting held on March 21. That session included lawmakers, the head of the State Bank of Pakistan, the chairman of the country’s Securities and Exchange Commission, and the federal IT secretary.
According to 24 News HD’s report on May 25, the plan, which consists of two phases, is led by the Pakistan Crypto Council and supported by the Ministry of Finance.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is ENS? Ethereum Name Service Explained (ANIMATED)
The first step will direct the unused power to build infrastructure for crypto mining and AI development. Finance Minister Muhammad Aurangzeb said this approach is expected to bring in foreign investment and create high-skilled job opportunities.
Later, the government plans to introduce renewable energy to support these operations. This is aimed at helping the industry expand while keeping environmental concerns in check.
Several international companies involved in Bitcoin mining and AI have visited Pakistan recently to explore the possibilities. To make the country more appealing to these investors, the Ministry of Finance has introduced tax relief for AI centers and removed import duties on Bitcoin mining equipment.
Bilal Bin Saqib, who leads the Pakistan Crypto Council, called this a “turning point” for the country to build a digital economy. He believes Pakistan can become an active part of the global crypto and AI industries—if clear rules and systems are put in place.
Bhutan’s Department of Tourism recently introduced a new crypto payment option for tourists, in partnership with Binance
$6.32B
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
