Pakistan Exploits Electricity Surplus for Bitcoin Mining
Pakistan aims to capitalize on its electricity production surplus by offering competitive energy tariffs for bitcoin miners and blockchain data centers, in a move intended to reduce waste and systematically enhance the digital assets sector.
According to the 'Dawn' newspaper, these tariffs will be determined based on market prices without relying on government subsidies, allowing the government to reduce payments allocated to energy producers for unused electricity.
Bitcoin mining is one of the most energy-intensive sectors, with 'Statista' data indicating that total network consumption ranges between 137 and 175 terawatt-hours annually. Miners typically allocate between 60% and 70% of their revenues to pay electricity bills, making it an ideal sector to absorb the energy surplus that Pakistan faces.
In this context, Pakistan's Energy Minister, 'Owais Leghari', met with the CEO of the Pakistan Cryptocurrency Council, 'Bilal Bin Thaqib', to discuss opportunities for attracting global cryptocurrency miners to invest in the country.
Finance Minister 'Muhammad Aurangzeb' also chaired the inaugural meeting of the council, where ways to develop a regulatory framework for digital assets to support local growth and enhance foreign investment flows were discussed.
