Pakistan eyes surplus power use for crypto mining

According to a report by Dawn, the Power Division is consulting with various stakeholders to create attractive electricity rates for these industries without introducing subsidies. The initiative plans to use excess power production while reducing capacity payments.

This approach could appeal to cryptocurrency miners, who generally spend 60-70% of their earnings on electricity costs. Pakistan’s current surplus electricity situation offers potential competitive advantages.

Power Minister Awais Leghari recently met with Bilal Bin Saqib, chief executive of the newly formed Pakistan Crypto Council (PCC), to discuss opportunities for global crypto miners to leverage Pakistan’s excess electricity. This was followed by the PCC’s inaugural meeting chaired by Finance Minister Muhammad Aurangzeb and attended by key financial regulators. Read more