Pakistan allocates 2,000 MW of electricity to power Bitcoin mining and AI data centres in the first phase of a national initiative

In a groundbreaking move to transform Pakistan into a global leader in digital innovation, the government has announced the allocation of 2,000 megawatts (MW) of electricity

In a groundbreaking move to transform Pakistan into a global leader in digital innovation, the government has announced the allocation of 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power Bitcoin mining and artificial intelligence (AI) data centers.

This ambitious initiative is being spearheaded by the Pakistan Crypto Council (PCC) - a government-backed body operating under the Ministry of Finance - as part of a broader strategy to monetize surplus electricity, create high-tech jobs, attract billions of dollars in foreign direct investment, and generate billions of dollars for the government.

The initiative follows the recent decision by the government to legalise cryptocurrency in a move designed to attract international investment. The PCC was launched in March to "regulate and integrate blockchain technology and digital assets" into the country's financial landscape.

Federal government has appointed entrepreneur Bilal Bin Saqib as the chief adviser to the finance minister on the council.

A statement by the Finance Division said that this initiative is being launched as part of a broader strategy to monetize surplus electricity, create high-tech jobs, attract billions of dollars in foreign direct investment, and generate billions of dollars for the government.

Minister for Finance Muhammad Aurangzeb said that this strategic allocation marks a pivotal moment in Pakistan's digital transformation journey, unlocking economic potential by converting excess energy into innovation, investment, and international revenue.

"Pakistan is uniquely positioned - both geographically and economically - to become a global hub for data centers. As a digital bridge between Asia, Europe, and the Middle East, Pakistan offers the most strategic location in the world for data flow and digital infrastructure," the statement said.

Since the inception of the PCC, there has been tremendous interest from global Bitcoin miners and data infrastructure companies. Several international firms have already visited the country for exploratory discussions, and following this landmark announcement, more global players are expected to visit in the coming weeks.

Pakistan's initiative to invite foreign companies for setting up Bitcoin and AI data centers comes as part of broader efforts to diversify its economy and reduce dependence on traditional industries.

The initiative is also expected to create thousands of direct and indirect jobs, and will help to develop a skilled workforce in engineering, IT, and data sciences.

The statement said that the initiative is a win-win situation for all parties involved. It will enable foreign companies to deploy their capital and technology in a stable and supportive environment, while also generating significant revenue for the government and creating new opportunities for the people of Pakistan.

"We are excited to welcome foreign companies to Pakistan to be part of this transformative initiative," said Bilal Bin Saqib, CEO of the PCC.

"Together, we can unlock the full potential of Web3 and AI to drive economic growth and improve people's lives."

This initiative is a key part of the government's broader vision for digital transformation in Pakistan, which also includes plans to develop a national metaverse strategy and introduce a central bank digital currency.