IMF Questions Pakistan's Bitcoin Mining Power Allocation Amid Energy Concerns

According to Odaily, the International Monetary Fund (IMF) has raised concerns over Pakistan's recent decision to allocate 2,000 megawatts of electricity for Bitcoin mining. This plan, announced last week, aims to attract independent miners, blockchain companies, and artificial intelligence firms to the country. The IMF has requested urgent clarification from Pakistan's Ministry of Finance regarding the legality of cryptocurrency mining and the allocation of power, especially given the nation's ongoing energy shortages and financial pressures. The Pakistani government reportedly did not consult the IMF before making this announcement. Additionally, the IMF has expressed worries about the potential impact of cryptocurrency activities on Pakistan's electricity prices and resource distribution. It is anticipated that both parties will arrange a separate meeting to specifically discuss the Bitcoin power allocation plan.