Bitcoin Mining In Pakistan – Government Eyes Using Surplus Power

Source Bitcoinist

Pakistan’s government plans to use its extra electricity for Bitcoin mining operations, turning unused power into a money-making opportunity. Officials have started talking with other government departments about creating special electricity rates for foreign Bitcoin miners to help cut costs on wasted power, reports suggest.

Power Officials Create New Rate Plan For Bitcoin Miners

Bitcoin mining companies spend up to 70% of their earnings on electricity, according to reports from Pakistan’s power sector. Representatives from the Power Division are now working on a new pricing structure that would give crypto miners cheaper electricity while still protecting government interests.

The plan tackles Pakistan’s problem of paying for unused power capacity. Unlike other countries that struggle to provide enough electricity for both mining and regular needs, Pakistan claims it can offer dedicated power systems just for crypto mining. If successful, this could make the country an attractive place for blockchain data centers.

Government And Crypto Leaders Hold Key Meetings

Support for Bitcoin mining in Pakistan grew stronger after Power Minister Awais Leghari met with Bilal Bin Saqib, who heads the Pakistan Crypto Council (PCC). They talked about ways to use Pakistan’s energy supplies to attract international Bitcoin mining operations. Saqib presented energy plans that would use Pakistan’s natural resources by creating rules that work for local needs.

Finance Minister Muhammad Aurangzeb later led another meeting focused on making a complete plan for cryptocurrency mining in the country. Top officials from the central bank and other regulatory agencies discussed the need for clear policies and strong infrastructure for crypto mining businesses. Pakistan is working to become competitive in the global cryptocurrency market.

New Rules Needed For Mining Success

The success of this project depends heavily on creating well-defined rules and systems that work efficiently. Bilal Bin Saqib stated that Pakistan needs special policies fitted to its economic situation to achieve success in cryptocurrency mining without harming the power sector. Pakistan’s finance minister described this digital mining project as starting “a new digital chapter” for the economy.

Pakistan Positions Itself For Blockchain Future

Creating a framework for cryptocurrency mining would help Pakistan take advantage of worldwide trends in blockchain technology. These include licensing systems, national blockchain policies, and test programs that Pakistan can use to encourage investment in this new sector while making sure its power resources are used efficiently.

The initiative stands out as an unusual approach to solving Pakistan’s energy problems – using excess capacity that would otherwise go to waste while potentially bringing in foreign investment. Rather than spending money to fix its power sector problems, the government hopes this plan will generate revenue while making use of resources that currently cost the country money.

Featured image from Gemini Imagen, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold sinks as risk appetite improves on Trump-Powell calm, China tariff relief hopesGold prices plunged more than 2.50% on Wednesday as risk appetite improved due to a possible de-escalation of US-China tensions and US President Donald Trump's statement that he doesn’t plan to fire Federal Reserve (Fed) Chair Jerome Powell.
Author  FXStreet
Yesterday 01: 32
Gold prices plunged more than 2.50% on Wednesday as risk appetite improved due to a possible de-escalation of US-China tensions and US President Donald Trump's statement that he doesn’t plan to fire Federal Reserve (Fed) Chair Jerome Powell.
placeholder
Bitcoin Price Stabilizes After Surge — Is It Gearing Up for Another Leg Up?Bitcoin price is moving higher above the $93,200 zone. BTC is consolidating gains and might continue higher above the $94,000 zone in the near term.
Author  NewsBTC
Yesterday 03: 22
Bitcoin price is moving higher above the $93,200 zone. BTC is consolidating gains and might continue higher above the $94,000 zone in the near term.
placeholder
Gold price bulls could regain control amid fading US-China trade deal optimismGold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
Author  FXStreet
22 hours ago
Gold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
placeholder
Forex Today: Easing geopolitical tensions support USD ahead of mid-tier dataThe US Dollar (USD) stays resilient against its peers early Thursday after posting gains for two consecutive days.
Author  FXStreet
20 hours ago
The US Dollar (USD) stays resilient against its peers early Thursday after posting gains for two consecutive days.
placeholder
Gold price snaps selling off after fresh Trump comments on tariffsGold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday.
Author  FXStreet
18 hours ago
Gold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday.
goTop
quote