Pakistan Explores Bitcoin Mining with Excess Energy to Boost Tech Sector
Pakistan is considering leveraging its surplus electricity to power Bitcoin mining operations and AI data centers, as part of a broader strategy to optimize energy use and strengthen its foothold in emerging technologies. The initiative, backed by the country’s Crypto Council and finance ministry adviser Bilal Bin Saqib, follows discussions with major mining firms and aims to address inefficiencies in the energy sector while fostering innovation. Binance founder Changpeng Zhao (CZ) has also been linked to the discussions, signaling potential international collaboration.
Pakistan Considers Using Surplus Energy for Bitcoin Mining
Pakistan plans to allocate excess electricity from its national grid to Bitcoin (BTC) mining operations and AI data centers. The initiative, announced by the country’s Crypto Council and finance ministry adviser Bilal Bin Saqib, follows consultations with multiple mining firms and aims to address structural inefficiencies in the energy sector while advancing its position in emerging technologies. Changpeng Zhao (CZ), founder of Binance, has been appointed to the Pakistan Crypto Council in an advisory role that will encompass support for blockchain infrastructure, guidance on regulatory frameworks, and assistance with national crypto initiatives.
Biggest Bitcoin (BTC) Long Liquidations Spotted On-Chain, What Next?
The crypto market is facing significant uncertainty, particularly with Bitcoin (BTC) in the limelight. Recently, Bitcoin witnessed one of its largest long liquidations in history amidst market fluctuations. According to CryptoQuant, April 6 saw the biggest Bitcoin long liquidation since the current bull run began, with around 7,500 BTC in long positions liquidated in a single day. This means numerous traders who anticipated a price rise were compelled to close their positions at a loss. While trade tensions and inflation fears persist, some experts remain optimistic about a potential market recovery. Investors hope that Bitcoin’s price may sustain its recent rebound, following President Trump’s decision to pause tariff hikes for 90 days.
Bitcoin, Altcoins Jump After 90-Day Tariff Pause by Trump
Global markets and cryptocurrencies rebounded sharply after President Donald Trump announced a temporary 90-day pause on tariffs for most countries, excluding China. This move injected Optimism into markets weighed down by trade tensions and economic uncertainty. U.S. stock indexes, including the S&P 500, Nasdaq, and Dow Jones, posted significant gains. Cryptocurrencies such as Bitcoin and various altcoins also saw a strong surge, potentially signaling the start of a bull run across both traditional and digital assets.
Major Australian Bank CEO Apologises After Freezing Customer Funds Over Bitcoin Transfer
On Wednesday, Westpac CEO Anthony Miller apologised to a customer after the bank blocked a $30,000 transfer to Australian crypto exchange CoinSpot and froze their accounts. The customer, known only as Tim, had deposited $50,000 into his Westpac account earlier this month and attempted to move a portion of the funds to CoinSpot to invest in Bitcoin. The transaction was halted, triggering a call from Westpac’s risk management team. Tim recorded the conversation and played it on Sydney’s 2GB radio earlier this month, where the staff member repeatedly challenged him on the purpose of the transfer, suggesting his answers lacked clarity.
Crypto Market Today: Trump Tariff Pauses, Bitcoin Price, and More
The crypto market saw significant movement today as the Trump tariff was halted for 90 days on most countries. This led to a bullish trend in Bitcoin, with the price up 7.77% since yesterday, claiming a hold at $82,068.39. The trading volume also shot up an impressive 43.98% to $77.87 billion. If the uptrend remains consistent, we can expect the BTC price to rise to $85k by the weekend.
