Pakistan to power Bitcoin mining with 2,000 megawatts of surplus energy

According to a report from CoinMarketCap, Pakistan plans to allocate 2,000 megawatts of electricity to new data centers for artificial intelligence and Bitcoin mining. The initiative is designed to address Pakistan's challenges with surplus energy and high electricity tariffs. By redirecting this unused power, the government aims to attract foreign investment, create high-tech jobs, and stimulate economic growth.

Finance Minister Muhammad Aurangzeb outlined a two-phase strategy. The first phase will focus on attracting foreign companies by offering incentives like tax breaks and duty exemptions. The second phase will promote sustainability by encouraging the use of renewable energy, such as solar, to power these facilities.

According to Aurangzeb, the proposal has already attracted significant interest from foreign investors.