The Pakistani government is reportedly exploring the potential of attracting Bitcoin mining operators to utilize surplus electricity, a move aimed at alleviating the financial strain caused by capacity payments in the power sector.
As per reports, the Ministry of Energy’s power division has initiated discussions with key stakeholders to develop a specialized electricity tariff for emerging sectors, including cryptocurrency mining. The objective is to draw investment without relying on government subsidies.
According to industry data cited in the reports, Bitcoin mining operations allocate approximately 60-70% of their revenue to electricity costs. The idea of integrating crypto mining into Pakistan’s energy framework has gained traction following a recent meeting between Power Minister Awais Leghari and Bilal Bin Saqib, CEO of the newly formed Pakistan Crypto Council (PCC). The discussion centered around leveraging the country’s excess electricity to attract international Bitcoin miners, potentially transforming an energy surplus into an economic opportunity.
The dialogue extended into the PCC’s first official meeting on Friday, which was chaired by Finance Minister Muhammad Aurangzeb and included senior officials such as State Bank Governor Jameel Ahmad and representatives from the Securities and Exchange Commission, among other key ministries. During the meeting, Saqib outlined a strategy to tap into Pakistan’s untapped energy resources and technological capabilities for Bitcoin mining while advocating for clearer regulatory guidelines and policies tailored to the country’s specific needs.
Aurangzeb reportedly expressed optimism about the initiative, describing it as the start of “a new digital chapter” for Pakistan’s economy. The PCC is expected to function as a unified body to develop a responsible and structured regulatory framework for cryptocurrencies and digital assets. The meeting emphasized the necessity of regulatory clarity, pilot programs, and international alignment in shaping Pakistan’s crypto policies.
Eleanor Terrett, a journalist closely following the evolving crypto landscape, noted that the initiative reflects a broader global trend where governments are beginning to assess digital assets as part of their economic and energy strategies.
Participants in the meeting also highlighted the importance of building upon existing research and collaborating with organizations that have experience in blockchain and digital assets. The discussions signal a potential shift in Pakistan’s approach to digital finance, positioning the country as a prospective hub for Bitcoin mining amid its ongoing energy sector reforms.
Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.
🗣️ Interested in advertising with CIM? Talk to us!
