Pakistan channels surplus energy into bitcoin and AI boom
Pakistan will allocate 2,000 megawatts of electricity to bitcoin mines and AI data centers as part of the first phase of the national initiative, the finance ministry in the country's capital, Islamabad, announced on Sunday.
According to Reuters, this decision is part of Pakistan's plans to utilize surplus electricity to power bitcoin mines and AI data centers.
Pakistan aims to profit from electricity surplus
Pakistan's energy sector struggles with challenges such as high electricity tariffs and excess production capacity, reports Reuters.
The rapid development of solar energy has further complicated the situation, as more consumers opt for alternative energy sources to reduce costs.
The initiative is led by the Pakistan Crypto Council (PCC), a government-supported body, and represents part of a broader strategy aimed at profiting from excess electricity. It also focuses on creating advanced technology sector jobs and attracting foreign investment, as highlighted by the ministry.
The announcement reads that the energy allocation is the first stage of a wider, multi-stage implementation of digital infrastructure.
