Pakistan banks on surplus power for bitcoin and AI push
Pakistan will allocate 2,000 megawatts of electricity to bitcoin mining and AI data centres as part of the initial phase of a national initiative, announced by the finance ministry on Sunday. The country's capital, Islamabad, will oversee this project.
According to Reuters, this decision forms part of Pakistan's strategy to utilise surplus electricity for powering bitcoin mining and AI data centres.
Pakistan seeks to profit from surplus energy
The energy sector in Pakistan is currently facing challenges such as high electricity tariffs and excess production capacity, as reported by Reuters.
The rapid expansion of solar energy has exacerbated the situation, as many consumers are opting for alternative energy sources to lower their costs.
The initiative is spearheaded by the Pakistan Crypto Council (PCC), a government-supported body, and is part of a more comprehensive strategy to utilise surplus electricity. This plan aims to create jobs in the advanced technology sector and attract foreign investment, according to the ministry.
"The energy allocation is the first stage of a wider, multi-stage implementation of digital infrastructure," - the statement reads.
