IMF "Concerned" About Pakistan's Bitcoin Mining Plan

Against the backdrop of energy shortages and budget negotiations, the International Monetary Fund (IMF) has questioned Pakistan's plan to allocate 2,000 megawatts of electricity for Bitcoin mining. Announced last week, the plan aims to attract independent miners, blockchain companies, and artificial intelligence firms to Pakistan. The IMF has now requested the Pakistani Ministry of Finance to urgently clarify the legality of cryptocurrency mining and the issue of power allocation, especially given the country's long-standing energy shortages and financial pressures.

It is reported that the Pakistani government did not consult the IMF before announcing this decision. Additionally, the IMF has expressed concerns about the potential impact of cryptocurrency on Pakistan's electricity prices and resource allocation. It is expected that the two parties will arrange a separate meeting to specifically discuss this Bitcoin power plan.