Pakistan Utilizes Excess Energy for Bitcoin Mining and AI Data Centers
Pakistan is taking an innovative approach to address its surplus electricity capacity by channeling it into Bitcoin mining and AI data centers. This initiative was announced by Bilal Bin Saqib, the CEO of the Crypto Council of Pakistan. The country faces challenges with high electricity tariffs and an overproduction of energy, exacerbated by the rapid expansion of solar energy as more consumers shift to alternative sources to reduce costs.
To make efficient use of this surplus energy, the government plans to establish mining centers in regions with excess electricity. Discussions with multiple mining companies are already underway to advance this initiative. Changpeng Zhao, the founder of Binance, will act as a strategic advisor to the Crypto Council of Pakistan, despite his legal issues in the United States related to money laundering violations. Zhao's role will include supporting the development of blockchain infrastructure, regulatory frameworks, and national initiatives such as digital currencies and blockchain education.
"The training of Pakistan's youth in blockchain and AI can not only create jobs but also boost the economy," emphasized Bilal Bin Saqib.
Pakistan is home to an estimated 15 to 20 million cryptocurrency users and ranks as the third-largest freelancer economy globally. Despite the lack of regulation, the country is among the top 10 global adopters of cryptocurrency. Saqib highlighted the importance of regulatory sandboxes to foster innovation and growth in the fintech and freelancer sectors.
| Key Highlights | Details |
|---|---|
| Estimated Crypto Users | 15-20 million |
| Global Crypto Adoption Rank | Top 10 |
| Freelancer Economy Rank | 3rd globally |
By exporting digital services, Pakistan aims to position itself as a hub for emerging tech talent on the global stage. This strategy could significantly contribute to the country's economic development while addressing its energy surplus.
- Pakistan plans to use surplus energy for Bitcoin mining and AI data centers.
- Changpeng Zhao of Binance will advise on blockchain infrastructure and regulations.
- The country ranks among the top 10 in global crypto adoption and is the third-largest freelancer economy.
- Blockchain and AI education are seen as key to job creation and economic growth.
Source: it-boltwise.de
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