Pakistan Uses Excess Electricity to Develop Bitcoin Mining

The country's energy sector has been facing excess production capacity in recent years, while rising tariffs have caused discontent among the population and businesses. An additional factor was the active installation of solar panels, which reduces the demand for traditional energy sources. The government believes that cryptocurrency mining can partially compensate for excess energy, increase the profitability of generation and reduce its cost.

According to Saqib, mining sites will be located in regions with the greatest surplus of electricity, which will ensure efficient distribution of resources. In addition, special attention is paid to digital infrastructure and training the population in modern technologies.

It is noted that Changpeng Zhao, the founder of Binance, is involved in the Cryptocurrency Council of Pakistan as a strategic advisor. His tasks include advising on legislative issues, developing blockchain infrastructure, and assisting in the launch of national initiatives in the field of digital assets, mining, and education.

Pakistan is among the world leaders in the number of freelancers and is rapidly developing the fintech sector. It is estimated that 15 to 20 million citizens already own cryptocurrencies. However, as Saqib emphasizes, the lack of regulation hinders innovation. In this regard, it is proposed to introduce regulatory "sandboxes" - safe zones for testing new financial technologies and digital solutions without risk to consumers.

He also noted that investments in training young people in blockchain and AI skills can stimulate economic growth, create new jobs, and increase the export of digital services.

Recall that back in 2022, the authorities considered the option of banning cryptocurrencies and even planned to block the relevant Internet resources. Now the country is changing course and aiming to make the most of the global digital trend.