The government of Pakistan has announced the allocation of two thousand megawatts (MW) of electricity to Bitcoin mining and artificial intelligence (AI) data centres. This strategic move is intended to leverage surplus power and stimulate the digital economy.
This initiative, as per the Finance Division, is a component of a broader strategy that is designed to attract billions of dollars in foreign direct investment (FDI), generate considerable revenue for the government, create high-tech employment opportunities, and monetise excess electricity.
The move was characterised by Finance Minister Senator Muhammad Aurangzeb as a critical juncture in Pakistan’s digital transformation journey, underscoring its potential to stimulate economic development by transforming surplus energy into international revenue streams, investment, and innovation.
Bitcoin Mining to Help Pakistan Earn Foreign Exchange in USD
Bilal Bin Saqib, CEO of the Pakistan Crypto Council, expressed his admiration for the initiative, asserting that Pakistan has the potential to become a global leader in artificial intelligence and cryptocurrency through effective regulation, transparency, and international collaboration.
He also emphasized that the government can generate foreign exchange in US dollars through Bitcoin mining as a result of this energy-backed digital transformation.
Pakistan’s objective is to transition from conventional electricity sales in Pakistani rupees to the utilization of digital assets to improve economic stability by directly accumulating Bitcoin in a national wallet.
Pakistan’s dedication to adopting emergent technologies and establishing a competitive presence on the global digital stage is evidenced by this bold move.
