Pakistan plans to provide energy to data centres for artificial intelligence (AI) and Bitcoin mining using its excess electricity. This new step is a fresh direction for the country’s energy and technology policy.
Creating something beneficial that can contribute to economic growth is the primary objective. According to a report, Pakistan may benefit from this step by modernising its economy and maximising the return on its previous energy sector investments.
This development was announced by Bilal Bin Saqib, the head of Pakistan’s Crypto Council and counsel to the finance minister. According to him, discussions with a number of mining corporations have already begun as the government looks into how to make this plan happen.
High costs and an excess of power supply are just two of the major issues Pakistan’s electricity sector has been dealing with. Those problems are thought to be creatively resolved by this concept.
It’s interesting to note that this statement follows the appointment of Binance founder Changpeng Zhao as a new strategic counsellor to the Pakistani government on cryptocurrency issues. This indicates that for future development, the government is now more receptive to utilising digital technologies and techniques related to cryptocurrency.
Read more: Can Binance founder Changpeng Zhao help Pakistan become a crypto power?
Using excess electricity for AI and cryptocurrency mining is an opportunity to use power that would otherwise be wasted, and Pakistan intends to increase employment, draw in international investment, and strengthen its digital economy.
This project can provide new sources of income by leveraging the profitable AI and cryptocurrency markets. It has the potential to increase local technical infrastructure and draw in foreign investment.
Utilizing surplus electricity helps reduce energy wastage and improves the efficiency of the national grid. This can lead to lower electricity prices and better returns on energy investments.
By establishing AI data centres, Pakistan may establish itself as a centre for technological innovation, attracting international tech businesses and nurturing local talent.
The development of Bitcoin mining farms and AI centers can generate employment opportunities in various sectors, including technology, energy, and finance.
This action is in line with Pakistan’s overarching plan to update its digital economy and energy infrastructure.
All things considered, it’s a calculated move towards using excess energy to advance technology and the economy.