Pakistan has announced plans to use surplus electricity for Bitcoin mining and AI centers. This initiative aims to enhance investments in the country.
Using Surplus Electricity for Bitcoin Mining and AI
Pakistan is preparing to utilize its surplus electricity amid high tariffs and increasing renewable energy production. Bilal Bin Saqib, advisor to the finance minister and CEO of the newly established Pakistan Cryptocurrency Council, stated that discussions are underway regarding using this surplus for Bitcoin mining and AI centers. Locations for these centers will be determined based on regions where the electricity surplus is concentrated.
Blockchain Initiatives Accelerated by Political Shift
Last month, Pakistan made headlines by forming a Cryptocurrency Council to lead initiatives in the crypto and blockchain sectors. This step allowed the country to take a more active role in the growing global blockchain competition. According to Council President Saqib, this transformation was also spurred by Donald Trump's re-election in the United States, prompting many countries to reshape their strategies regarding cryptocurrencies.
CZ's Role in the Development of the Crypto Sector
Earlier this week, it was reported that Changpeng Zhao, co-founder and former CEO of Binance, joined Pakistan's Cryptocurrency Council as a strategic advisor. Zhao confirmed this development through a post on social media. His involvement could enhance Pakistan's visibility in international cryptocurrency circles and provide the government with technical and strategic advantages in attracting foreign investments.
Pakistan's initiatives to utilize surplus electricity for the crypto and AI sector may significantly impact the country's investment climate while intensifying competition in blockchain technologies.
