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The IMF has rejected Pakistan’s proposal to offer discounted electricity rates for Bitcoin mining, citing concerns over energy market distortions and legal uncertainties. The plan, aimed at boosting digital infrastructure, is now under review by the World Bank.
- IMF warns subsidized electricity for Bitcoin mining could distort Pakistan's energy market and strain its overloaded power grid.
- Pakistan's crypto ambitions include a government-backed Bitcoin Strategic Reserve and partnerships to expand blockchain innovation.
- The World Bank is reviewing the proposal, but concerns remain over dedicating 2,000 megawatts to mining and AI data centers.
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Other Tags: DeFi, World Bank