The Pakistani government has announced that it has decided to direct 2,000 megawatts of electricity from idle coal-fired power plants to #bitcoin ($BTC ) mining and artificial intelligence centers.
The country's Ministry of Finance announced that the initiative is being carried out under the leadership of the #Pakistan Crypto Council. According to information reported by Bloomberg, the aim is to utilize the excess energy in coal-fired power plants, which use only 15% of their capacity. This move aims to reduce the country's economic fragility, create new technology-focused business areas, and attract foreign investments to the country.
In addition, Pakistan is working on a comprehensive regulatory infrastructure that will support approximately 15 to 20 million cryptocurrency users in parallel with this new economic strategy. Thus, Pakistan aims to contribute to the development of the sector by making the crypto ecosystem orderly and secure.
With this step, Pakistan wants to accelerate the economic transformation process by directing the energy surplus, which it previously saw as a major financial burden, to high-value areas such as Bitcoin mining and artificial intelligence. At a time when similar steps are being taken in many countries around the world, this initiative by Pakistan is of critical importance in terms of gaining an advantage in regional economic competition.
