IMF Raises Concerns Over Pakistan’s Bitcoin Mining Power Allocation Amid Energy Crisis

The International Monetary Fund (IMF) has expressed concerns regarding Pakistan’s recent decision to allocate 2,000 megawatts of electricity for Bitcoin mining. This allocation, announced last week, aims to attract businesses involved in Bitcoin mining, blockchain technology, and AI development to the country. However, the IMF requested clarification from Pakistan’s Ministry of Finance on the legality and allocation of this power, especially considering the nation’s ongoing energy shortages and financial difficulties. The Pakistani government reportedly did not consult the IMF before making this announcement, further escalating concerns. The IMF also expressed worries about the potential impact of cryptocurrency activities on Pakistan’s electricity prices and resource distribution. A separate meeting is scheduled to discuss this Bitcoin power allocation plan in detail.