IMF Raises Concerns About Pakistan’s Bitcoin Mining Plan Amid Energy Shortage

The International Monetary Fund (IMF) has questioned Pakistan’s plan to allocate 2,000 megawatts of electricity for Bitcoin mining, citing concerns about legal implications and potential economic impact. This move comes amid existing energy shortages in the country. The IMF emphasizes that they were not consulted prior to the announcement of this plan. The allocation of such significant resources raises questions about resource allocation strategy, particularly considering Pakistan’s ongoing energy crisis. Pakistan’s decision to attract Bitcoin miners, however, has sparked a range of concerns among international observers and financial institutions including the IMF. The country’s move towards digital asset attraction is expected to generate significant implications for international relations and economic stability in Pakistan.