Pakistan’s strategic plans to harness its energy resources for Bitcoin mining and artificial intelligence have hit a roadblock, with the International Monetary Fund (IMF) expressing concerns over the initiative. Amid the country’s energy shortages and fiscal challenges, the IMF is seeking immediate clarification from the Finance Ministry on its legality and power allocation. Significantly, this development validates concerns raised by CoinGape in a recent report, highlighting potential IMF scrutiny. Pakistan Faces Scrutiny over Bitcoin Mining Initiative As reported by Samaa, a local news media, Pakistan faced increased scrutiny from the IMF regarding its potential plans to allocate 2000 MW of power for Bitcoin mining and AI. Sources within the Finance Ministry revealed that the IMF was not informed about Pakistan’s crypto mining plan. The familiar sources added that the global lender questioned cryptocurrencies’ legal status in the country. However, the possibility of Pakistan establishing a Bitcoin reserve hangs in the… Read More at Coingape.com

The post Just-In: IMF Raises Red Flag Over Pakistan’s Bitcoin Mining Plans appeared first on CoinGape.

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