Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy
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....
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A government minister overseeing new cryptocurrency policy in Pakistan said that a local province will build two hydroelectric mining farms.
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 […]
With growing adoption and state-sponsored mining in Pakistan, what does the country’s Bitcoin present and future look like? The post Tracing The Growth Of Bitcoin In Pakistan appeared first on Bitcoin Magazine.
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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....