IMF Worried About Pakistan’s 2,000MW Bitcoin Mining Plan

The International Monetary Fund (IMF) has raised concerns over Pakistan’s recent decision to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centres without prior consultation. This move, announced under the Pakistan Crypto Council (PCC), has sparked tension as it contradicts bailout conditions requiring mutual agreement on key policy steps. IMF officials are expected to bring up the issue during upcoming virtual talks with the federal government.

The Fund questioned how such a major policy could proceed without clarifying the legal status of cryptocurrency in Pakistan. The government claims the initiative will monetize surplus electricity, create tech jobs, and attract foreign investment, with future phases involving renewable energy and global partnerships. However, the IMF stressed the need for policy alignment, particularly as it prepares to review Pakistan’s fiscal framework in the upcoming budget. The discussions are expected to be difficult due to this unsupervised decision.