Pakistan reserves 2,000 megawatts of power for Bitcoin mining

Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence (AI) centres, reported 24NewsHD TV Channel on Sunday.

According to the Ministry of Finance, this initiative is part of the Pakistan Crypto Council's broader digital transformation strategy.

In the first phase, additional electricity will be reserved specifically for AI infrastructure and Bitcoin mining facilities. The aim is to monetise excess electricity that previously went underutilised. 

Officials believe this step will open new avenues for economic growth and position the country at the forefront of digital innovation.

Finance Minister Muhammad Aurangzeb stated that the government expects billions of dollars in foreign investment as a result of this decision. 

He added that it will also pave the way for high-tech employment opportunities across Pakistan.

The Ministry revealed that Bitcoin miners and data infrastructure companies had already shown strong interest in the country. 

Several international firms have reportedly visited Pakistan to explore collaboration opportunities in this area.

Bilal Saqib, a leading voice in the sector, remarked that the initiative offers a unique opportunity for Bitcoin miners and AI data centres to thrive.

Saqib further emphasised that with formal regulations and increased transparency, Pakistan has the potential to become a global crypto leader. 

The Ministry of Finance has also announced tax incentives for AI infrastructure and duty exemptions for Bitcoin miners to attract further investment.

In the second phase, miners will be offered access to renewable energy sources to enhance sustainability in the sector.

Reporter: Waqas Azeem