Pakistan eyes Bitcoin mining with excess energy reserves

Pakistan's Growing Embrace of Cryptocurrency and Bitcoin Mining

In recent months, Pakistan has shown a significant shift towards cryptocurrencies. The latest development reports the nation's intention to leverage its surplus energy to facilitate Bitcoin mining.

This change in stance followed a leadership transition and the establishment of a dedicated cryptocurrency council. Bilal bin Saqib, head of the Pakistan Crypto Council, confirmed the government's plans to engage in Bitcoin mining. Sources also suggest that Pakistani officials are actively engaging with major Bitcoin and cryptocurrency mining companies to encourage them to establish operations within the country.

Pakistan has reportedly struggled with significant energy waste, resulting in substantial losses. This new initiative aims to address this issue while simultaneously capitalizing on the growing cryptocurrency market.

The Pakistani cryptocurrency market is experiencing rapid growth, with projections indicating 27.01 million users by the end of 2025 (currently estimated at 16-20 million with direct or indirect exposure to digital assets). Average user revenue is expected to reach $59.9 in 2025, potentially exceeding $100 by 2027. Prominent cryptocurrency companies operating in Pakistan include Pursa, Binance, OKX, Cubix, Nowpayments, and Redot Pay.

According to CoinMarketCap, Bitcoin maintains the highest adoption and usage rate among cryptocurrencies in Pakistan, followed by PI coin, Solana, Ethereum, XRP, Official Trump, Dogecoin, and SUI.

Market Overview (at time of publication):

• Global Crypto Market Cap: $2.59 trillion (5.48% surge)
• Global Crypto Trading Volume: $159.02 billion (20.17% increase)
• Bitcoin: Intraday gain of 7.22%, trading at $81,696. Market cap: $1.62 trillion. Trading volume: $70.29 billion.

Intraday Top Performers: Fartcoin ($0.7241), Flare, Bittensor, AB, Hyperliquid, Render, Sonic, Hedera, and Pendle.

Intraday Biggest Losers: Zcash and Tezos.