pakistanbtcmining

#PakistanBTCMining Pakistan, El Salvador Form Crypto-Focused Partnership

Pakistan, despite IMF oversight, is exploring crypto integration, including a BTC reserve and mining operations.

By Francisco Rodrigues|Edited by Parikshit Mishra

What to know:

Pakistan and El Salvador are establishing a knowledge-sharing partnership centered around cryptocurrency.

Pakistan is moving towards integrating cryptocurrency despite IMF oversight, with plans to establish a BTC reserve and a regulatory body.

El Salvador, the first country to adopt bitcoin as legal tender, continues to invest in bitcoin despite IMF disapproval.

Pakistan and El Salvador have launched their first formal bilateral relationship, and they’re anchoring it in cryptocurrency.

Pakistan’s special assistant to the prime minister on crypto and blockchain, Bilal Bin Saqib, met with El Salvador’s President Nayib Bukele in San Salvador to outline a new knowledge-sharing partnership focused on cryptocurrencies, as Bloomberg first reported.

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The meeting marks a pivot for Pakistan, which only recently began embracing crypto. The country moved back in May to use surplus energy from coal-fired power plants to mine bitcoin BTC$85,064.05, and last month engaged with Strategy’s Michael Saylor to explore the cryptocurrency’s role in its sovereign reserves.

Pakistan is moving toward crypto despite financial oversight by the International Monetary Fund, which recently rejected its proposal to subsidize power for bitcoin mining.

The country is looking to set up a BTC reserve and already allocated 2,000 megawatts to mining. It also set up a new regulatory body in May, the Pakistan Digital Assets Authority, to oversee the growing domestic crypto economy$BTC

🚨🚨 #PakistanBTCMining 🚨$BTC 🚨🚨
🇵🇰 Pakistan’s New Plan: Using Surplus Electricity for Bitcoin Mining & AI Data Centers ⚡

Here’s what’s going on:

🔋 Using Excess Power: Pakistan has a lot of surplus electricity — and instead of letting it go to waste, they’re planning to use it for Bitcoin mining and AI data centers. It’s a smart way to make sure that extra energy is put to good use.

💡 Focus on Innovation: The idea is to boost sectors like Bitcoin mining and AI, which need lots of energy for their operations. It’s all about investing in emerging tech that could fuel economic growth.

🏛️ Government Support: The Pakistani government is backing this initiative by creating a friendly regulatory environment for these tech projects, even considering regulatory sandboxes to help new ideas grow.

🌍 International Partnerships: Pakistan is already talking to global Bitcoin miners and AI companies to bring their data centers to regions with surplus power. These partnerships could open doors to major international investments and collaborations.

🌱 Sustainable Energy: The country is looking to leverage its renewable energy sources, like hydroelectric power, to make this whole plan more sustainable. It’s all about using resources in the smartest way possible.

👨‍💼 Expert Guidance: Changpeng Zhao (CZ), CEO of Binance, is now advising Pakistan’s Crypto Council. His knowledge and experience will be key in shaping Pakistan’s approach to blockchain and crypto.

📈 Economic Potential: If this works out, it could create new job opportunities, attract foreign investment, and establish Pakistan as a real player in the global tech and digital economy scene.

#PakistanBTCMining

🇵🇰 Pakistan Eyes Bitcoin Mining with Hydropower! 💡

Big news from Pakistan! On March 21st, the Cryptocurrency Board held its first meeting, discussing plans to utilize hydropower for Bitcoin mining. The goal? To attract foreign investment and position Pakistan as a crypto hub.

Key figures, including SBP Governor, SECP Chairman, and IT Minister, were present, signaling serious intent. Senator Muhammad Aurangzeb called it the start of a new digital era.

🚀 If Pakistan moves forward with regulated crypto mining, could it boost the economy and put the country on the global crypto map? Or will regulatory hurdles slow things down?

Drop your thoughts below! 👇