International monetary fund expresses concern over bitcoin mining plans in Pakistan

In the context of energy shortages and budget negotiations, the international monetary fund has questioned Pakistan's plan to allocate 2,000 megawatts of electricity for bitcoin mining, which was announced last week to attract autonomous miners, blockchain companies and artificial intelligence companies to Pakistan. The international monetary fund has asked the Pakistani Ministry of Finance to urgently clarify the legality of cryptocurrency mining and power distribution issues, especially in the face of chronic energy shortages and financial pressures in the country. It is reported that the Pakistani government did not consult the international monetary fund before announcing this decision. In addition, the international monetary fund also expressed concerns about the potential impact of cryptocurrencies on electricity prices and quotas in Pakistan. It is expected that a separate meeting will be arranged between the two sides to discuss the Bitcoin power plan.