Pakistan to build Bitcoin mining farms in pilot program
According to a report by Reuters, the Pakistani government will launch a pilot program to build Bitcoin and other cryptocurrencies mining farms. Power by two hydroelectric sources and based on the province of Khyber Pakhtunkhwa, the national program seeks to obtain revenues from the current rally in the crypto market. The advisor to the provincial […]
Related News
A government minister overseeing new cryptocurrency policy in Pakistan said that a local province will build two hydroelectric mining farms.
The government of Khyber Pakhtunkhwa (KP), the third largest of Pakistan’s four semi-autonomous provinces, is setting up two state-backed bitcoin mining farms, local media reported last week. Ziaullah Bangash, advisor to the chief minister of KP on Science and Information Technology, said the provincial parliament passed a bill allowing the KP government to use its own money to establish the mining facilities. The province, which has since legalized crypto mining, will be mining bitcoin (BTC) for profit, BOL News, a local media organization, reported. No details were given about the....
The Pakistani province of Khyber Pakhtunkhwa will build two pilot cryptocurrency mining firms as part of a new state policy. The Pakistani province of Khyber Pakhtunkhwa, or KP, has formed a federal committee to create a new cryptocurrency policy including government-backed crypto mining.As part of the new policy, the KP Crypto Advisory Committee has already decided to pilot two hydroelectric-powered crypto mining farms, a minister overseeing the policy told Reuters.The committee held its first meeting on March 17, Zia Ullah Bangash, advisor to the provincial government on science and....
Since Iran began recognizing cryptocurrency mining as an industry, it has reportedly shut down 1,620 unauthorized crypto mining farms. Crypto miners initially welcomed the recognition but later said that the electricity tariffs were too high. 1,620 Crypto Mining Farms Shut Down in Iran Iranian authorities have reportedly closed down 1,620 illegal cryptocurrency mining farms since the country started recognizing cryptocurrency mining as a legal industry in July 2019. The Financial Tribune reported Monday that these mining farms were using 250 megawatts of electricity. Many of the....
Exxon Mobil Corporation is reportedly participating in a pilot program that leverages excess natural gas to power crypto mining machines, according to a recent report quoting people familiar with the matter. The report states that the oil giant is partnered with the firm Crusoe Energy Systems, and the pilot is purportedly taking place in North Dakota at the Bakken shale basin. Unnamed Sources Say Exxon Is Piloting a Bitcoin Mining Operation in North Dakota Using Flare Gas On March 24, Bloomberg author Naureen S Malik reported that the largest American oil and gas corporation Exxon Mobil....