Category - Crypto Mining

Pakistan builds two pilot crypto mining companies

A Pakistani province plans to establish two pilot hydropower-powered mining farms to further the adoption of cryptocurrencies.

According to a Reuters report, Pakistan’s Khyber Pakhtunkhwa province plans to build two pilot hydropower-powered cryptocurrency mining farms. While the report does not specify that the farms would mine Bitcoin particularly, the ongoing bull market in the Bitcoin price, the growing institutional acceptance of the asset and the overall market dominance of BTC would all indicate that they would.

While the cost of construction remains unknown, a senior government official, Zia Ullah Bangash, who is a provincial government advisor on science and technology, said:

“We’ve been approached by people who want to invest, and we want them to come to Khyber Pakhtunkhwa, make some money, and for the province to make money from it as well.”

Read More