This decision aims to turn an energy glut into an economic boost. It comes as part of a wider plan backed by the Finance Ministry and pushed by the Pakistan Crypto Council.
The first phase kicks off immediately. It will feed AI centers and crypto farms. Officials say this move could draw in billions in foreign cash. It should also open up tech jobs in cities and towns across the country.
Pakistan’s Finance Ministry announced it will allocate 2,000 megawatts of surplus power to support Bitcoin mining and AI center development as part of its national digital transformation strategy. The government has introduced tax incentives to attract foreign firms, with several…
They’re checking out potential deals for hardware, software, and data-center space. Finance Minister Muhammad Aurangzeb told reporters that clear rules and perks will make Pakistan a top spot for tech investors.
The digital assets body is even planning to “tokenize” national assets and public debt. In future, it could manage how surplus electricity is used for mining in a way that’s logged and audited.
Phase two of the plan brings a green twist. Officials promise to tap renewable sources, like solar and wind, for mining sites. That should help limit carbon emissions and ease public concerns.
Pakistan already faces air-quality issues in major cities. By steering mining operations toward renewables, the government hopes to cut fuel use at thermal plants and balance power needs.
Critics caution that high mining loads would overburden local grids unless properly managed. They also refer to price fluctuations of Bitcoin, which might transform a profitable scheme into a monetary bet.
Featured image from Unsplash, chart from TradingView
