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Pakistani Government Deploys 2,000 MW to BTC Mining, DWF Labs' Grachev Welcomes 'Smart Move'
Pakistan deploys 2,000 MW of electricity for BTC mining
According to the official statement of the country's Finance Minister Muhammad Aurangzeb, Pakistan is committing 2,000 megawatts of energy for Bitcoin (BTC) proof-of-work mining and AI-specific data centers. This ambitious program is set to make Pakistan a leader in blockchain disruption for the entire Asian region.
This initiative starts the process of Pakistan's evolving into the go-to location for data centers from all of Asia. Especially, energy benefits will be interesting for hash miners of proof-of-work (PoW) cryptocurrencies and disruptive AI ventures.
AI data centers and Bitcoin mining operations, known for their consistent and heavy energy usage, provide an ideal use case for transparent, ESG-friendly and sustainable usage of Pakistan's massive energy surplus, which is heavily underutilized right now.
In the future, more countries are expected to become users of Pakistan's Bitcoin- and AI-centric energy program, which will contribute to the eco-friendliness and profitability of data-heavy computations worldwide
Pakistan also shared its ambitions to allocate the par of Bitcoin (BTC) miner rewards to its local strategy reserve. Bitcoin's reserve of Pakistan will help the country to hedge against instability of fiat currencies in Europe and the U.S.
"This could be transformative," MP Grachev welcomes initiative
In general, industry experts are optimistic about the Pakistani government's initiative and its potential effects for the country, the region and Bitcoin (BTC) mining verticals.
Andrei Grachev, founder and managing partner of global market-making heavyweight DWF Labs, is impressed about its potential influence:
Grachev also stressed that, with such solutions, emerging markets can potentially leapfrog traditional financial infrastructure the same way they did with mobile payments.
Pakistan might be showing the whole world what the next phase of economic development looks like when you combine abundant energy with permissionless technology, DWF Labs' officer concluded.
As covered by U.Today previously, this week, Pakistan's Telecom Ministry scored a collaboration with Binance Academy, an education unit of world-leading exchange Binance.
Binance Academy experts will educate 300 local "evangelists," who are expected to share blockchain knowledge with thousands of students.