Pakistan Plans to Create a Bitcoin Reserve and Assign 2000 Megawatts of Power for Cryptocurrency Mining

LAS VEGAS, Nevada — The Pakistani government has announced its intention to create a strategic bitcoin reserve and promote bitcoin mining, as stated by Minister of State for Blockchain and Crypto, Bilal Bin Saqib, during an event in Las Vegas.

Bin Saqib revealed that the strategy for the bitcoin reserve in Pakistan was influenced by a similar initiative from the U.S. government, which plans to establish its own bitcoin reserve, primarily sourced from assets seized through legal actions, estimated at approximately 200,000 bitcoins. He added that Pakistan is closely monitoring U.S. legislation regarding stablecoins.

Similar to the U.S. reserve’s allocation, Bin Saqib clarified that Pakistan also intends to retain its bitcoins rather than sell them.

“This national bitcoin wallet is intended solely for preservation and will not be used for speculative trading. Our goal is to hold onto these bitcoins permanently,” Bin Saqib emphasized.

Moreover, Pakistan plans to dedicate 2,000 megawatts of power for bitcoin mining operations and artificial intelligence data centers. “We are excited to invite all miners and infrastructure developers to come to Pakistan and collaborate with us,” expressed Bin Saqib.

He indicated that establishing a strategic bitcoin reserve represents merely the initial step in Pakistan’s broader adoption of the cryptocurrency sector.

“We have a demographic of over 100 million unbanked individuals who currently lack adequate saving and investment tools. We aspire to transform this situation. Our vision is to help them transcend their economic boundaries, and I firmly believe that cryptocurrencies and blockchain technology can facilitate this leap forward,” said Bin Saqib. “We aim to tokenize our non-liquid assets and develop digital identities. Consequently, Pakistan is seeking partnerships and opportunities, motivated by a desire to advance.”