Many countries are turning to cryptocurrencies to boost their economies. Some governments are even openly encouraging people to use Bitcoin. For example, recently the government of Pakistan decided to build two Bitcoin mining units in the country. Let’s look back at this decision to support the country’s economy.
Khyber Pakhtunkhwa (KP) is the third most significant region in the country. This region is located on the border with Afghanistan. However, the government of this province has just announced the construction of a center dedicated to the mining of Bitcoin. The most surprising thing is that this mining center will be entirely financed by the government.
This unit will be used for the mining of Bitcoin. For the moment, no information has yet filtered on the computing power that will be installed in this center. This project is the culmination of a pro-Bitcoin policy pursued by this province for many years. The inhabitants of the region will thus be allowed to mine Bitcoin and use cryptos.
This news follows another announcement of the same type. Private investor Waqar Zaka has long worked to develop the crypto industry in Pakistan. However, he has just announced the creation of a private mining center in the country.
“After several years of difficulty, I am launching the project to build the largest crypto mining farm in KP where you can all invest and make money”, Waqar Zaka said.
In total, two mining centers will be created in Pakistan.
Pakistan is one of the countries where Bitcoin is a hot topic. Indeed, more and more people have turned to Bitcoin to cope with the country’s economic situation. On the other hand, the government is thinking more and more about implementing a regulation on cryptos, leaving a certain threat to this industry.
The construction of two new mining centers in the country, one of which was initiated by the government, is therefore good news for the cryptosphere. However, for these projects to succeed, Pakistan will have to overcome the current energy crisis.
Indeed, Pakistan is facing problems with its electricity supply. Power cuts are recurrent in the country. At the beginning of January, the entire country was in darkness for one day.
Mining activities are very energy intensive. Indeed, the computing power required for mining is very high. The KP region is known for its mild climate. Also, this region seems to be the right place to set up mining farms in the country. However, the question remains as to whether the new mining centers will further jeopardize the country’s electricity supply.