Pakistan might be on the verge of exploring bitcoin mining as a way to address its energy challenges by using surplus power to its advantage.
Government Eyes Bitcoin Mining
The Ministry of Energy is considering a special electricity tariff for industries like Bitcoin mining to attract investors without relying on government subsidies. A meeting between Power Minister Awais Leghari and Bilal Bin Saqib, CEO of the newly formed Pakistan Crypto Council, discussed the potential for Pakistan to become a global hub for cryptocurrency mining. This was followed by a larger meeting led by Finance Minister Muhammad Aurangzeb with key officials and regulators focusing on whether Pakistan should embrace crypto mining as an economic strategy.
How Pakistan Stands Out
Reports indicate that Bitcoin miners spend up to 70% of their earnings on electricity. While many countries have faced challenges managing this demand, Pakistan takes a different approach. Instead of burdening the national grid, Pakistan aims to create a stable and competitive energy supply dedicated to crypto mining. If successful, this strategic move could make Pakistan a key global hub for blockchain-based data centers.
Pakistan May Make New Crypto Rules
During one meeting, Bilal Bin Saqib shared a plan to utilize Pakistan’s surplus energy for Bitcoin mining while creating clear industry regulations. He emphasized the importance of designing a policy that aligns with Pakistan's needs and benefits its people. Success will depend on regulatory clarity, compliance with international financial laws, and maintaining a stable power supply.
If Pakistan manages to implement its crypto mining initiative successfully, it could turn excess energy into economic opportunity and position itself as a significant player in the global digital assets market.
