Catenaa, Sunday, March 09, 2025-Belarus President Alexander Lukashenko has directed his government to expand cryptocurrency mining efforts, citing the country’s surplus electricity as a key resource, state media reported.
Speaking to Energy Minister Alexei Kushnarenko, Lukashenko emphasized the importance of leveraging global crypto trends and instructed officials to evaluate the profitability of large-scale mining operations. His remarks come as Belarus seeks to attract international mining investors, particularly from Russia and China.
The push for increased mining follows the completion of the Belarusian Nuclear Power Plant, which has bolstered the country’s electricity supply. Officials say the plant’s 2,400 MW capacity now allows Belarus to offer competitive energy rates to miners.
Lukashenko also suggested the possibility of Belarus establishing a national cryptocurrency reserve, drawing parallels to reported U.S. efforts to hold Bitcoin and other digital assets. He questioned the need to sell energy to foreign investors when the country could develop its own mining sector.
Belarus previously attempted to position itself as a crypto hub through its Hi-Tech Park initiative but faced limitations due to energy shortages. With its expanded energy capacity, the government is now exploring fresh incentives to attract mining firms.
While crypto mining presents economic opportunities, concerns remain over regulatory risks and the sector’s long-term viability amid evolving international policies.
