IMF no gree Pakistan cheap power plan wey dem make for crypto miners
Pakistan Power Division propose to sell extra light at $0.08–0.081 per kWh to crypto miners, AI data centers and other sectors wey dey use plenty energy for six months. The plan na to reduce fixed costs wey dey for idle generation and cut Pakistan $4.5 billion circular debt. IMF reject cheap power for crypto miners plan because e get risk for tariff distortion. Without cheap power for crypto miners, local firms dem dey lose important cost advantage. Islamabad dey now dey consult Finance Ministry, World Bank and other development partners make dem change the proposal.
Bearish
Di IMF no gree make cheap power dey for crypto miners remove one important cost advantage wey Pakistani miners get, e dey reduce their profitability and fit force dem to sell their assets. For short term, high energy cost fit make Bitcoin selling pressure increase, wey go cause bearish market sentiment. For long term, slow mining capacity growth for Pakistan fit no too affect Bitcoin global supply-demand dynamics. Overall, the news dey put pressure for miner margins and fit make Bitcoin price go down.