Pakistan to Harness Surplus Electricity for Bitcoin Mining and AI Data Centers

Pakistan turns to bitcoin miners, AI data centers to use surplus power

ISLAMABAD, April 9 (Reuters) - Pakistan plans to allocate part of its surplus electricity to Bitcoin mining and AI data centres, the head of Pakistan's Crypto Council and adviser to the finance minister said on Wednesday, adding it had held talks with several mining firms. Pakistan's energy sector is grappling with challenges, including high electricity tariffs and surplus generation capacity. The rapid expansion of solar energy has further complicated the landscape, as more consumers turn to alternative energy sources to mitigate high costs. Bilal Bin Saqib, chief executive officer of the council, told Reuters the location of the mining centre will be finalised based on the availability of excess power in specific regions. Documents seen by Reuters outline the role of Changpeng Zhao, founder of Binance, who will serve as a strategic adviser to the Pakistan Crypto Council. Zhao was in May last year sentenced to four months in prison after pleading guilty to violating U.S. laws against money laundering at the world's largest cryptocurrency exchange. His role on the Pakistan council will include supporting blockchain infrastructure, advising on regulatory frameworks, and assisting with national initiatives, such as digital currency, mining, and youth education in blockchain technologies. Saqib said the country has 15-20 million crypto users and is the third-largest global freelancer economy, with a growing fintech space. "Pakistan is in the top 10 global crypto adopters despite it not being regularised," he said. Saqib said he wants regulatory sandboxes, or safe environments for testing, to foster innovation and growth in the fintech and freelancer economy. He also said upskilling Pakistan's youth in blockchain and AI can drive job creation and the economy, boosting exports through digital services, and positioning the country as a hub for emerging tech talent on the global stage. Reporting by Ariba Shahid, Writing by Surbhi Misra; editing by Barbara Lewis Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Asia PacificFuel Oil Ariba Shahid Thomson Reuters Ariba Shahid is a journalist based in Karachi, Pakistan. She primarily covers economic and financial news from Pakistan, along with Karachi-centric stories. Ariba has previously worked at DealStreetAsia and Profit Magazine.

Pakistan to Utilize Surplus Electricity for Bitcoin Mining and AI Data Centers

Turning Surplus Power into Digital Opportunity: Pakistan's New Energy Strategy In a groundbreaking move, Pakistan is set to utilise its surplus electricity to fuel Bitcoin mining operations and artificial intelligence (AI) data centers, marking a significant shift in the country's energy and technology landscapes. According to Bilal Bin Saqib, head of Pakistan's Crypto Council and advisor to the finance minister, this innovative initiative aims to convert power capacity surpluses into economic opportunities within the burgeoning digital infrastructure market. By using surplus electricity for Bitcoin mining and , Pakistan seeks to address longstanding power sector issues, including high electricity prices and energy wastage, while generating better returns on its energy investments. This strategic move has sparked conversations with mining firms, paving the way for a new era of economic growth and digital innovation in the country.

Pakistan turns to bitcoin miners, AI data centers to use surplus power

ISLAMABAD (Reuters) - Pakistan plans to allocate part of its surplus electricity to Bitcoin mining and AI data centres, the head of Pakistan's Crypto Council and adviser to the finance minister said on Wednesday, adding it had held talks with several mining firms. Pakistan's energy sector is grappling with challenges, including high electricity tariffs and surplus generation capacity. The rapid expansion of solar energy has further complicated the landscape, as more consumers turn to alternative energy sources to mitigate high costs. Bilal Bin Saqib, chief executive officer of the council, told Reuters the location of the mining centre will be finalised based on the availability of excess power in specific regions. Documents seen by Reuters outline the role of Changpeng Zhao, founder of Binance, who will serve as a strategic adviser to the Pakistan Crypto Council. Zhao was in May last year sentenced to four months in prison after pleading guilty to violating U.S. laws against money laundering at the world's largest cryptocurrency exchange. His role on the Pakistan council will include supporting blockchain infrastructure, advising on regulatory frameworks, and assisting with national initiatives, such as digital currency, mining, and youth education in blockchain technologies. Saqib said the country has 15-20 million crypto users and is the third-largest global freelancer economy, with a growing fintech space. "Pakistan is in the top 10 global crypto adopters despite it not being regularised," he said. Saqib said he wants regulatory sandboxes, or safe environments for testing, to foster innovation and growth in the fintech and freelancer economy. He also said upskilling Pakistan's youth in blockchain and AI can drive job creation and the economy, boosting exports through digital services, and positioning the country as a hub for emerging tech talent on the global stage. (Reporting by Ariba Shahid, Writing by Surbhi Misra; editing by Barbara Lewis)