365Crypto
Pakistan is flipping the switch on its digital future—literally. The country has reserved 2,000 megawatts of excess electricity for powering Bitcoin mining and AI centers. That’s enough juice to light up a small country—or a lot of graphics cards.
This bold move comes straight from a government-backed plan to turn Pakistan into a hub for tech investment. According to 24NewsHD, the plan was launched by the Pakistan Crypto Council and is supported by the Ministry of Finance.
In the first phase, unused electricity will fuel high-tech data centers and crypto mining farms. Finance Minister Muhammad Aurangzeb says the plan could pull in billions in foreign investment while creating top-tier tech jobs.
Next phase? Green mining. The government wants to mix in renewable energy to keep things profitable and planet-friendly.
And the investors are already circling. International Bitcoin miners and AI firms have visited Pakistan in recent months, eyeing opportunities and partnerships.
To sweeten the deal, the Finance Ministry has cooked up some tax breaks for AI centers and duty exemptions for crypto miners.
Bilal Bin Saqib, head of the Pakistan Crypto Council, called it a “turning point.” He believes Pakistan could become a major player if it sticks to clear rules and smart policies.
This idea isn’t new. Saqib first pitched using unused energy for Bitcoin mining back in March during the Council’s kickoff meeting. Big names from the central bank, securities regulator, and IT ministry were all in the room.
Now it’s official: Pakistan has formed the Pakistan Digital Assets Authority (PDAA). This body will handle licenses, regulate crypto platforms, and oversee everything from stablecoins to tokenized assets.
The PDAA will also help tokenize national assets and manage the sale of government debt using blockchain. Plus, they’ll guide startups building decentralized apps and solutions.
Pakistan already ranks 9th on Chainalysis’ 2024 global crypto adoption index, thanks to strong use of centralized exchanges and grassroots adoption.
According to Statista, Pakistan could have 27 million crypto users by 2025. That’s one in ten citizens, and a whole lot of hodlers.
Note:
Tokenization means turning physical or financial assets into digital tokens.
Stablecoins are cryptocurrencies pegged to real-world assets like the U.S. dollar.
