Pakistan allocates 2,000 MW of capacity for Bitcoin mining

Pakistan Allocates 2,000 MW Capacity for Bitcoin Mining

In the first phase of its plan to support Bitcoin mining and artificial intelligence data centers across the country, Pakistan has allocated an installed power capacity of 2,000 megawatts. Currently, the country is promoting the legalization of cryptocurrencies to attract foreign investment. The Pakistani Ministry of Finance stated in a statement that this plan, led by the Pakistani Cryptocurrency Committee, will also help monetize surplus energy and create high-tech jobs. The Ministry of Finance said that coal-fired power projects such as Sahiwal, China Hub, and Port Qasim, which are currently operating at only 15% capacity, are expected to be repurposed for this plan. The Pakistani federal government is seeking investment to boost the economy, and the country barely avoided a debt default in 2023. With approximately 15 to 20 million cryptocurrency users, the country aims to establish a regulatory framework to grow its local crypto ecosystem and attract global capital.

—— Bloomberg

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