- Belarusians Call for Legalizing “Digital Gold” Mining
- Potential Benefits for the Country
- The Ministry of Energy’s Role
Belarusian President Alexander Lukashenko has instructed newly appointed Energy Minister Alexey Kushnarenko to explore the development of cryptocurrency mining in Belarus. This decision comes amid growing interest in crypto mining and an electricity surplus in the country.
Belarusians Call for Legalizing “Digital Gold” Mining
“Look at this mining. More and more people are coming to me about it. If it’s profitable for us, let’s do it. We have an electricity surplus—let them mine cryptocurrency!”
With an electricity surplus, Belarus can expand into cryptocurrency mining. Meanwhile, the U.S. government is reportedly exploring the creation of a national strategic crypto reserve, potentially including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA).
Lukashenko also noted Washington’s growing interest in crypto assets. “You see the direction the world is taking, especially the largest economy. Just yesterday, they announced they would store [cryptocurrencies] in reserves,” he said.
Potential Benefits for the Country
Cryptocurrency mining was legalized in Belarus back in 2017, and the government sees it as a potentially lucrative sector for the national economy. Lukashenko suggested not only attracting investors but also developing domestic mining operations.
“There will be demand for this. Maybe we should mine it ourselves. Why just sell electricity to investors when we could do it too? I’m not against attracting investors, but we should also have our own mining operations,” he stated.
The Ministry of Energy’s Role
Lukashenko has tasked Energy Minister Alexey Kushnarenko with conducting a thorough assessment and presenting detailed proposals for expanding cryptocurrency mining in Belarus. The plan is expected to include investor incentives and the creation of favorable conditions for mining companies.
Conclusion
Lukashenko’s push for crypto mining development could be a significant step toward establishing Belarus as a key player in the cryptocurrency industry. However, experts emphasize that for this initiative to succeed, the government must ensure regulatory stability and maintain favorable conditions beyond 2025.
