Pakistan has officially introduced 2,000 megawatts of electricity for the national program to support and develop Bitcoin mining and artificial intelligence data centers. The country aims to attract foreign investment and legalize cryptocurrencies.
This is reported by UNN with reference to Bloomberg.
Details
Pakistan has allocated 2,000 megawatts of electricity for the first phase of the national program to support Bitcoin mining and artificial intelligence data centers.
This initiative, led by the Pakistan Cryptocurrency Council, aims not only to legalize cryptocurrency, but also to create jobs in the technology sector and attract global investment, as stated in the publication.
According to the Ministry of Finance, the program plans to use coal energy projects such as Sahiwal, China Hub and Port Qasim, which are currently operating at 15% capacity. It will also help monetize surplus energy and develop the local economy, which barely avoided default in 2023.
Pakistan, which has about 15-20 million cryptocurrency users, is actively working to create a regulatory framework for the development of the cryptocurrency ecosystem.
In April, the country enlisted the support of Binance co-founder Changpeng Zhao to create a digital financial platform, according to the publication. A preliminary agreement has also been signed with a crypto project linked to Donald Trump to develop blockchain innovation.
According to the Ministry of Finance, Pakistan has already attracted the attention of international crypto miners and data infrastructure companies. However, the specific names of potential partners have not yet been disclosed.
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