The Pakistan economy has been suffering for the last few years, not unlike many countries these days. One of the four Pakistan providences is investing in Bitcoin mining to change this.
The Khyber Pakhtunkhwa providence bought two Bitcoin mining farms a week ago.
Pakistan recently adopted Crypto friendly laws prior to this announcement. While many countries have started to turn to crypto, no other country has used government funds to participate in mining crypto currencies. Iran said they would invest in Bitcoin mining last year but so far has not done so.
How do you feel if governments started to use taxes to pay for mining equipment to start compete with other miners. While it is extremely bullish, it brings with it some interesting concerns.
Pakistan has been known to have frequent power problems and recently had the largest power failure around the same time the government started mining although not related.
Most of Bitcoin mining is done in China where they have extremely low power costs due to a surplus of mega dams built in the 1950's.
Why you should vote me as witness
Posted Using LeoFinance Beta
its good to see India in the list 😀🙏
Cheap electricity but high temperatures.
Let’s open a water cooling business over there :D
Posted Using LeoFinance Beta
We can hire thousands of people to blow on it
Haha love this one
Posted Using LeoFinance Beta
Wonder if US will have a round of condemning bitcoin again or they will skip straight to mining themselves.
yeah there are few more reason, in pakistan this time imran khan is prime minister, he is fighting against corrupt pakistani ruler who was in past, so now Pakistan Government, province khber paktoon khana going to start bitcoin mining, so it is good news, so i believe in pakistan, crypto will be legal soon , so now many pakistani are working in this field also,,
it's inevitable, especially for the poorer countries!
Posted Using LeoFinance Beta