IMF raises concern over Pakistan’s Bitcoin mining power plan: report
IMF questions Pakistan’s plan to allocate 2,000 megawatts of electricity for Bitcoin mining amid energy shortages and budget talks.
The International Monetary Fund (IMF) has raised concerns over Pakistan’s decision to allocate 2,000 megawatts of electricity for Bitcoin mining and artificial intelligence data centers amid ongoing negotiations tied to the country’s extended financial program.
The initiative, announced last week, is designed to attract autonomous miners, blockchain companies, and AI firms to Pakistan.
However, the IMF has raised red flags about the move, requesting urgent clarification from the Finance Ministry regarding the legality of crypto mining and the power allocations, particularly as the nation struggles with chronic energy shortages and fiscal pressures, according to a report by local news outlets Samaa.