Cryptocurrency in Pakistan: Mining rigs being placed at govt offices, IT data centers of factories
Islamabad: Many people using crypto mining in Pakistan place their servers in large government offices and in IT data centers of large factories.
According to London-based Pakistani entrepreneur Zulfiqar Ahmed an extra annual electricity bill of Rs 1.5-2 million due to the electricity consumed by mining rigs usually goes undetected.
He said there are people out there who offer monthly deals for these servers by placing them in government offices illegally.
A mining rig can easily consume more than 1000W/1 ton inverter air conditioner.
In Pakistan, forex trading is illegal until it’s through State Bank of Pakistan (SBP) registered broker.
A mining “rig” is a customized personal computer (PC) that contains all standard PC components: a CPU, motherboard, RAM and storage. The main difference is that mining rigs use graphical processing units (GPUs) instead of central processing units (CPUs).
GPUs are better at solving the cryptographic equations needed to verify transactions on a blockchain. A single high-end GPU can outperform a standard CPU by up to 800 times in terms of instructions per clock. This makes them essential for anyone looking to mine cryptocurrencies.