Bitcoin Mining, allocates 2000 MW for AI centers

In order to make Pakistan a global digital innovation center, the government has allocated 2000 MW to provide electricity to Bitcoin mining and artificial intelligence data centers in the first phase.

In a statement issued by the Finance Ministry on Sunday, “this historic plan is being pushed forward under the leadership of the Pakistan Crypto Council (PCC).”

The PCC is a government agency operating under the Ministry of Finance, which aims to effectively use additional electricity to get billions of dollars of foreign investment, generate high -tech employment and increase billions of dollars in government income.

Finance Minister Mohammad Aurangzeb described the move as an important milestone towards Pakistan’s digital development, saying that the project would turn additional energy into innovation, investment and international income.

According to the statement, ‘Pakistan has a geographical and economically unique position and provides an ideal place for data centers around the world as a digital bridge between Asia, Europe and the Middle East, which is why Pakistan has been seeing the global bitcoin and data infrastructure since the establishment of the Crypto Council.

The statement said that several international companies have already come to Pakistan and after this announcement, more global institutions will visit here in the coming weeks.

The government says that after the abnormal increase in solar energy in Pakistan, unused power generation in the national grid is now being converted into digital assets and since AI data centers and bitcoin mining operations need continuous and large quantities of electricity, the use of additional energy is not possible to use it. Yes.

Pakistan Crypto Council CEO Bilal Bin Saqib termed the energy project a revolutionary and said that if proper code of conduct, transparency and international partnerships were ensured, Pakistan could become a global power in the field of crypto and AI.

He also said that this energy -based digital change will not only open the investment doors but will also provide the government with the opportunity to obtain foreign exchange directly through bitcoin mining.

He added that if the rules were allowed, Pakistan would be able to collect BitCoin directly to the national exchequer which would be a major economic change as it would collect digital assets instead of selling electricity in Pakistani rupees.

Due to the supply of cheap and stable energy, Pakistan, India and Singapore provide a more competitive environment than regional rivals, where energy is expensive and the shortage of land is a hindrance to investment.

In the current global situation, this benefit becomes even more prominent where the demand for AI data centers has exceeded 100 GW. Only 15 GW of supply is available globally. This Gulf is a golden opportunity for countries like Pakistan that have rules, additional energy and extra land in this regard.

There has also been major progress in Pakistan’s digital connection as the world’s largest sub -internet cable is now serving in Pakistan. It connects 45,000 km long cable 33 countries through 46 landing stations, which will increase Pakistan’s Internet bandwidth and flexibility, which is essential for the continuity of AI data centers.

The statement added that Pakistan has a strong potential for regional leadership in digital services with more than 25 million population and more than 4 million crypto consumers.

Establishment of local AI data centers will not only reduce data sovereignty concerns but also improve cyber security, improve digital services and increase the capacity of AI and cloud infrastructure at the national level, which will create thousands of direct, direct and direct, and direct jobs.

What is crypto mining?

Before knowing the crypto mining, you need to know about crypto currency or digital currency. Crypto currency is different from the currency used and used worldwide in the present era, and as it is clear, it is an online digital currency.

Mohsen Tariq, head of the National Center for Data and Cloud Computing and working on the cryptocurrency mining technique for the past four years, told Independent Urdu that the name of crypto mining has come out of gold, gold mining, and as gold is difficult to solve the users by making some difficult tools, making it difficult to solve the use of gold. Currency is found.

The whole process of making cryptocurrency is called crypto mining and crypto mining ‘minor.’

Solving difficult formulas on the computer gives a certain number of digital currency that the user can again make purchases.

Cryptocurrency was invented in 2009 by a man named Satoso Nakhomoto, who is a software engineer by profession and wants to keep his real name secret.

Initially, the currency could not get so much attention, but then it was the first online market for digital currency, a website on the Dark Web, which people used to buy through digital currency.

The difference between crypto currency and the currencies in the world is that there is no between the crypto currency that can record the transaction track. For example, taking money from the bank or depositing the bank has a record of these money, but this does not happen in crypto currency.

When Satosu Nakhomoto brought the crypto currency to the market for the first time in 2009, he made 50 bit coins, and likewise, every ten minutes resolved the formulas on the computer and continued to do more 50 bit coins. They kept mining and sending them to different people, but these bitcoin had no value.

How will the government crypto mining forms be?

Putting crypto mining forms under government patronage means that large -scale crypto mining forms will be installed by the government and they will start digital currency. Crypto mining farms are required to supply uninterrupted electricity and internet and the government can deal with a private partner and mining.

In recent days, the famous company PayPal has allowed the sale of crypto currency, which has increased the value of crypto currency worldwide. It is also important that the world now has no bitcoin but there are crypto currency in the thousands, but it has become very difficult to mine to Maine, because it has become difficult to make it.

How much does you spend on installing crypto mining forms?

We know about the crypto mining procedure, but now we know how much the crypto mining is spent.

Crypto mining can do any man on his computer or laptop that you will have to install a software that is available for free.

With a computer you have to apply a graphics card (which is essential for tasks like video editing or playing games).

This graphics card is expensive with the graphics card used in the normal game and can be easily found in Pakistan.

Crypto mining experts say graphics cards and the entire system cost up to 2 million to 3 million, and the most cost of it is to buy graphics cards.

Where can this system be applied? In response, experts say that when the mining system operates, it produces a lot of heat, which is why cold areas are chosen to apply mining as the northern areas of Pakistan so that there is no cost to keep the system at normal temperatures.

In hot and humid areas it is applied to the air conditioner or any other cooling system to maintain this computer temperature.

Can a crypto mingling firm go into this business?

Digital currency business does not need to install mining forms to industrialization, but online digital currencies are exchanged and no one can take money by sending them money through the bank through this online app.

A common example of this is the way you go to a money exchange and give them Pakistani money and buy them from any other currency such as dollars or Saudi riyals.

The whole system must have a fraud and fraud factor and in the past there have been incidents that a person has sent money but has not received digital currency and has been fraudulent.