Pakistan has committed 2,000 megawatts of electricity to bitcoin mining and artificial intelligence data centers, the country’s finance ministry said.
The committed energy is being directed from coal-fired power plants that are currently running at 15% capacity, Bloomberg reports, in an initiative spearheaded by the Pakistan Crypto Council.
By tapping surplus energy, the government hopes to turn a liability into an asset. Officials say the plan will create tech-related jobs and help attract overseas capital as the country works to stabilize its fragile economy, which came close to default in 2023.
Pakistan is also laying the groundwork for a regulatory framework to support its estimated 15 to 20 million cryptocurrency users.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin and ether order books are deeper than before the crash, while altcoin liquidity keeps…
One year after a flash crash wiped out billions in leveraged crypto bets, traders have…
CoinDesk analysis finds 10 unusually large trading days in 2026, raising questions about how investors…
Bitcoin Magazine Bitcoin Life Insurer Meanwhile Raises $37.5M as Wealthy Families Look to Pass On…
Bitcoin Magazine Here’s How Not To Screw up Your Bitcoin Privacy Just one transaction can…
Bitcoin Magazine Bitcoin ETFs Shed $729M in Two Days as Investors Reverse Course U.S. investors…