⚡️🇵🇰 NEW - Pakistan has allocated 2,000 megawatts of electricity to power Bitcoin mining and AI data centers.
The move is part of a national plan to legalize crypto and attract foreign investment, using underutilized power plants to fuel the push.
Discussion
nostr:nprofile1qqsrfud256c4pr0qh2elppkyh4dm676slpveg5wxu69vj40usdhre4spzamhxue69uhhyetvv9ujuurjd9kkzmpwdejhgtcpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsz9mhwden5te0wfjkccte9ehx7um5wghxyctwvshs408l4u here is the real threat.
Not a threat necessarily. Some energy companies and miners stand to benefit. That's pretty much it.
If they are coercively and arbitrarily allocating a certain amount without taking into account the state of the energy market, this is a bad idea and will cause misallocation. Electricity consumers will be affected and might face shortages or price increases.
Private grids that allocate capacity to Bitcoin mining according to supply and demand will be an incredible grid stabilizer. Demand response requires there to be an adequately market-based energy allocation system.
This ain't it.
But if they aren't mining yet even though there is under-utilised capacity, it means there are other factors that are stopping them from doing so.
If there are regulatory barriers, then it would be prudent to identify specific restrictions and remove them.
This is all any government, be it India's, Bangladesh's or Pakistan's, need to do, which is basically get out of the way and let the market do its thing.
Underutilized power plants are something we in Europe can only dream of.
nostr:nprofile1qyt8wumn8ghj7ct5d3shxtnwdaehgu3wd3skueqpz4mhxue69uhk2er9dchxummnw3ezumrpdejqqgqcx0hqg3vlavk2ftnfp40nzf566jyvd8jlayp6g26n93nhcj5pwqrv6k99 thata step in right direction