Pakistan’s Power Play: Turning Surplus Electricity into Crypto Gold! ⚡💰

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Pakistan, a land of contradictions and surprises, is now eyeing its surplus electricity like a gambler eyeing a jackpot. The plan? Lure cryptocurrency miners with special electricity tariffs. Because why let all that extra power go to waste when you can use it to mine digital gold? 🪙

According to Dawn, the Power Division is huddling with stakeholders, trying to cook up attractive rates without dipping into subsidies. The goal? Use that excess juice to reduce capacity payments and maybe, just maybe, make Pakistan a crypto mining hotspot. Because nothing says “innovation” like turning liabilities into assets, right? 🤷‍♂️

Cryptocurrency miners, who typically spend a chunk of their earnings on electricity, might find Pakistan’s surplus power situation irresistible. It’s like offering a buffet to someone who’s been living on instant noodles. 🍜

Power Minister Awais Leghari recently met with Bilal Bin Saqib, the head honcho of the newly minted Pakistan Crypto Council (PCC), to chat about how global crypto miners could tap into Pakistan’s excess electricity. The PCC’s inaugural meeting, chaired by Finance Minister Muhammad Aurangzeb, was attended by key financial regulators. Because when it comes to crypto, everyone wants a seat at the table. 🪑

Pakistani Council: Turning Power into Profit

Saqib pitched a vision of using Pakistan’s surplus electricity for Bitcoin mining, turning the country’s liabilities into assets. Because if there’s one thing Pakistan knows how to do, it’s turning lemons into lemonade. 🍋

The council discussed Pakistan’s untapped potential in the cryptocurrency space, with regulatory clarity being the key to unlocking it. They also agreed to learn from global best practices while adapting business and revenue models to local conditions. Because why reinvent the wheel when you can just tweak it? 🛠️

They also talked about developing regulatory frameworks, legislation, and licensing regimes for consumer protection, blockchain mining, and a national blockchain policy. Because nothing says “progress” like a good old-fashioned regulatory framework. 📜

Pakistan’s approach to cryptocurrency mining comes as various countries have taken different approaches to the energy-intensive industry. China, once the global hub for Bitcoin mining, banned the practice in 2021, citing environmental concerns and power shortages. Kazakhstan initially welcomed crypto mining but later imposed higher electricity tariffs and taxes due to energy shortages. El Salvador, the first country to adopt Bitcoin as legal tender, provides miners with low-cost geothermal energy from volcanoes. Because when life gives you volcanoes, you mine Bitcoin. 🌋

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2025-03-22 18:47