Pakistan may be about to be surprising transformation – as it turned into bitcoin mining to solve electricity challenges. With the excess power that weighs greatly on its economy, the government explores ways to bring in the world bitcoin miners, and the unused energy turns into profits instead of waste. Could this be the beginning of a digital revolution in Pakistan?
The eyes of the government mining bitcoin
The Ministry of Energy is studying a special electrical tariff for industries such as bitcoin mining, in the hope of attracting investors without relying on government subsidies.
The idea is simple – the participants need cheap electricity, and Pakistan has a surplus. By blocking this gap, the country can turn a problem in the energy sector for a long time into an economic opportunity.
This idea gained momentum during a major meeting between the Minister of Authority Owais Legari and Bilal Bin Sakib, CEO of the newly formed Pakistan Cheap Council (PCC). The discussion revolves around how Pakistan can put itself as a global coil mining center.
This was followed by a larger meeting, chaired by Finance Minister Mohamed Uranzib. It was attended by senior officials, including the governor of the bank and the organizers, the assembly focused on whether Pakistan should adopt encryption mining as part of its economic strategy.
How Pakistan stands out
Reports indicate that bitcoin miners spend up to 70 % of their profits on electricity. Many countries have struggled with the management of this request. China, for example, has banned encryption mining due to environmental concerns, while Kazakhstan initially embraced it before imposing higher taxes.
Iran, on the other hand, has made reduced prices, but it is often suspended in mining during the peak of electricity demand.
Pakistan, however, follow a different approach. Instead of obstructing the national network, the country aims to create stable and competitive energy supplies for encryption mining. This strategic step can make Pakistan a global center for Blockchain data centers.
If Pakistan successfully welcomes mining companies, it may create a new revenue flow while using extra energy more efficiently.
Pakistan may make new encryption rules
During the meeting, Bilal Bin Sakb participated in a plan to use the additional energy of Pakistan in bitcoin mining, with clear rules for the industry. He said that the country should create a policy that suits its needs and benefits its people.
While the plan carries a great promise, success depends on implementation. Organizational clarity, compliance with global financial laws, and ensuring stable energy supplies will be extremely important.
