IMF Shuts Down Pakistan’s Bid to Subsidize Bitcoin Mining Power—Crypto Industry Reacts

Pakistan’s attempt to lure Bitcoin miners with subsidized electricity just got a hard reality check—courtesy of the IMF.

The International Monetary Fund reportedly axed the proposal, leaving crypto advocates fuming and fiscal hawks nodding in approval. Here’s why it matters.

The Backstory: A High-Stakes Power Play

Islamabad wanted to juice its energy grid—and crypto mining revenues—by offering cut-rate power to Bitcoin operations. The IMF? Not impressed. Critics called it a desperate gambit; crypto bulls saw missed potential.

Why the IMF Pulled the Plug

Subsidies = fiscal risk. That’s the IMF’s calculus. With Pakistan’s economy on thin ice, propping up volatile crypto ventures wasn’t on the menu. Bonus jab: Another case of governments chasing crypto hype before fixing their balance sheets.

What’s Next for Crypto in Emerging Markets?

Miners will hunt cheaper kilowatts elsewhere. Meanwhile, the IMF’s message is clear: No free lunches—even for blockchain’s golden child.