The governor of Khyber Pakhtunkhwa province, one of Pakistan’s four provinces, announced that two state-funded bitcoin mining farms have started operating in the area.
To Report Khyber Pakhtunkhwa, one of Pakistan’s four provinces, officially announced the launch of two state-owned bitcoin mining farms last week.
This move can be considered as one of the first cases of direct government investment in the field of bitcoin mining.
Muneeb Twitter account wrote about this:
Officials in Khyber Pakhtunkhwa province, which had previously legalized the extraction of digital currencies, have approved the use of government funds for the extraction. Now, however, they have gone even further and turned to bitcoin mining directly.
Ziaullah Bangash, an adviser to Khyber Pakhtunkhwa’s chief information technology minister, said a bill had already been approved by the provincial assembly that endorsed the government’s extraction of bitcoins. In addition, the assembly passed a separate disqualification certificate that allows individuals to launch and launch their own digital currencies without fear of possible legal backlash.
The Pakistani government’s stance on bitcoin has been the same as that of other governments. The digital currency sector in the country is mired in bureaucracy and paperwork, however, local governments and individuals have been able to slowly push through digital currency legislation to help agree to accept digital currencies by increasing government revenue. To attract.
Khyber Pakhtunkhwa (KP) officials have made every effort to do so. The mountainous and cool nature of this province has made it an ideal environment for bitcoin mining. As you know, mining machines do thousands of calculations every second and consume a lot of energy to support the bitcoin network. Undoubtedly, the establishment of the mining industry in this province can greatly contribute to its local economy.
Last year, officials from the Khyber Pakhtunkhwa (KP) Khyber Pakhtunkhwa (KP) Provincial Assembly, led by Bangash, submitted a resolution to the Pakistani central government calling for the legalization of bitcoin mining and ownership throughout Pakistan. Part of the resolution states:
We urge the central government to carefully consider our proposal to legalize digital currencies throughout Pakistan.
At the same time as the resolution was submitted to the Pakistani government, one of the first private bitcoin mining farms was set up in the country by a man named Waqar Zaka. Zaka is one of the most influential figures in the field of digital currencies in Pakistan.
In a tweet, he thanked Bangash for his legal support and wrote:
After years of struggle, I was finally able to set up the largest bitcoin mining farm in Khyber Pakhtunkhwa; The province where all of you can invest in bitcoin.
In another part of Zaka’s tweet, we read:
Finally, my dream project was approved. Now, after years of struggle, I am now setting up the largest digital currency extraction farm in Khyber Pakhtunkhwa; All of you can invest in this province.
Turning to bitcoin as a source of income and a driver of economic growth has been seen in other countries as well. Iran is one of these countries.