Pakistan is taking steps to utilize its surplus electricity through crypto mining, aiming to boost the economy.
Pakistan's Crypto Mining Initiative
Pakistan aims to harness its surplus energy resources for developing a cryptocurrency mining infrastructure. The government is considering special electricity rates for Bitcoin miners and blockchain companies.
Economic and Energy Aspects
The Power Division of Pakistan is working on a policy to provide competitive electricity rates without introducing subsidies. The idea is to monetize unused electricity through crypto mining rather than let it go to waste. Power Minister Awais Leghari discussed strategies with the CEO of the Pakistan Crypto Council to attract miners.
Global Context and Future Plans
With varying international approaches to crypto mining, Pakistan sees potential in leveraging its energy surplus for economic gains. Success in the global crypto mining space will require reliable power supply, clear regulations, and strong infrastructure.
Pakistan sees economic growth potential in the crypto industry by efficiently utilizing surplus electricity, potentially making the country an attractive mining destination.
