Pakistan plans to use excess power to extract bitcoin ⋆ Zycrypto

Pakistan has announced plans to use surplus energy in encryption mining. The country is keen on the digital asset market and creates a special tariff to attract more encryption developers. Pakistan will use the excess force, available at marginal costs, to build encryption data centers. The Ministry of Energy in Pakistan contacted the owners of the various interests to implement the plan.

The country wants to attract more investors, but it needs to balance the power source so that it is in a good position to increase the encryption industry. Bitcoin alone is a thick energy process, using work mining, which is estimated to consume 130 terawatts per hour (TWH), at a higher rate than the rate that some countries such as Argentina and the Netherlands use.

Pakistan has an estimated 20 million active users and $ 20 billion in transactions. The relatively young manpower has a lot of capabilities to develop Web3 and an increasing market for young entrepreneurs who have cunning in technology. The possibility of growth in this market is promising and can be strengthened with government support.

Awais Legari, Federal Energy Minister, met Bilal Bin Sakib, Executive Director of the Pakistan Cheap Council (PCC), to discuss how to use excess electrical coding mining in Pakistan.

Bitcoin mining can only work if electricity is affordable. The process consumes a lot of energy and is said to consume 60 % of the mining factor income. Pakistan can offer an attractive tariff to reduce the cost of electricity. This step may attract more investors around the world to invest in the new industry.

2021 China has banned the mining industry, noting concerns about energy consumption and environmental effects. Many countries, such as China, have noticed the high -energy Bitcoin consumption and provided definitions or prohibited technology directly.

In October 2024, Tearan faced multiple current cuts, as many mining operations indicated as a cause. Iran offers electrical discounts for encryption mines, but it is repeatedly closing the operations with the high demand for electricity.

Pakistan has young people working, 60 % of the 240 million populations less than 30 years. The Blockchain industry is popular among younger workers and may provide more job opportunities for people.

The government wants to deal with PCC and take them to communicate with all stakeholders in encoding in Pakistan, providing access to major individuals in the industry and creating space for government officials to work directly with the private sector. The Pakistani government wants to cooperate with the sector and encourage teamwork.

“This is the beginning of a new digital separation for our economy,” said a government official. We are committed to building a transparent and ready -made financial environmental system that attracts investment, enables our youth, and places Pakistan on the global map as a leading company in emerging technologies. “

Muhammad Uranzib, the Pakistani Finance Minister, presided over the discussions, as he presented the idea of ​​benefiting from the extra electricity in the country with Bitcoin, and converting obligations into assets. Many ministers attended the meeting, including the ministers for that and the law.

In December 2024, Pakistan reported a $ 582 million account, which doubled the surplus of the previous year. Pakistan now wants to increase its economy more by taking advantage of excess electricity. She wants to convert lost electricity into economic wealth. However, you will need to achieve the right balance between good organization, well -built energy supply and infrastructure.

The World Bank occupies, from the 2020 Index, that Pakistan occupies 108 out of 190 countries, citing excessive red painter, corruption and ineffective organization. Pakistan will need to create a just stadium for encrypted projects so that startups succeed with the minimum intervention.

In August 2024, Russia has established a new law granting coding mining. Russia has an abundance of natural gas, which makes encryption mining at reasonable prices. Individuals and companies should register with the Russian Ministry of Digital Development before coding mining. However, if the amount of energy consumption is less than a specific threshold, the individual can overcome without recording his operations.