Key Takeaways:
The International Monetary Fund (IMF) is raising serious questions about Pakistan’s reported plans to allocate 2,000 megawatts (MW) of electricity towards Bitcoin mining and AI data centers.
This scrutiny comes as Pakistan faces ongoing energy shortages, fiscal challenges, and is in sensitive discussions with the IMF for financial support.
The IMF is seeking urgent clarification from Pakistan’s Ministry of Finance regarding the legality of cryptocurrency mining in the country and the specifics of the power allocation.
Concerns include the potential impact on electricity tariffs for other consumers, resource distribution, and the lack of a formal policy framework for cryptocurrencies.
Pakistan’s government has reportedly shown enthusiasm for leveraging blockchain and crypto technology, but the IMF was not previously informed of these specific mining plans.
IMF Seeks Answers on Ambitious Crypto Mining Project
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