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Tim Alper
Author
Tim Alper
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Why Trust Cryptonews
Belarus President Alexander Lukashenko has ordered his government to step up the “development” of the country’s crypto mining sector.
The Belarusian state-run media agency BelTA reported that Lukashenko told the new Minister of Energy Alexei Kushnarenko that the surplus electricity supplies “should be used to mine” cryptoassets.
Belarus: Crypto Mining Drive
Lukashenko’s comments come after the nation’s Deputy Energy Minster claimed at the end of 2024 that international mining “investors” were “showing keen interest” in Belarus.
Lukashenko told the minister to pay “attention” to “global trends” and “engage in mining if it is profitable.”
“Look into [crypto] mining. More and more people are [discussing this matter] with me. If it is profitable for us to do so, let’s do it. We have excess electricity reserves. Let [miners] use this to mine cryptocurrency.”
Belarus President Alexander Lukashenko
The long-serving Belarus President further told his government to pay attention to crypto-related developments in Washington and elsewhere.
He made reference to United States President Donald Trump’s plans to create a national reserve of Bitcoin (BTC) and other tokens. Lukashenko said:
“We can see the direction the world is heading in, especially the largest economy in the world. [Washington] announced yesterday that it will hold [cryptoasset] reserves.”
The President added that as the “demand” for cryptoassets would rise in the future, “maybe we should get involved ourselves.”
Minsk ‘Maybe’ to National Crypto Reserve Proposals
Lukashenko further suggested that Belarus might one day create its own national crypto reserve.
“Why are we attracting some investors and selling them electricity? […] I do not rule it out. But we need to do it ourselves. These kinds of proposals already. I think that you [the government] will move through the bureaucracy and report on what needs to be done.”
Lukashenko
Belarus has previously tried to court crypto miners and crypto-related firms to Minsk’s Hi-Tech Park.
However, the nation has previously suffered from a shortage of cheap power, a key draw for global crypto mining players.
Minsk feels it has now addressed this problem by developing the Belarusian Nuclear Power Plant (also known as the Astravets Nuclear Power Plant).
The plant’s first unit came online in June 2021, and a second became operational in November 2023. This has recently brought its total capacity to 2400 MW, Belarusian officials claim.
The power station has given Belarus an energy boost, allowing it to offer incentivized tariffs to attract international miners to the country.
Russian media outlets report that both Russian and Chinese investors “have already shown an interest” in backing Belarus-based crypto mining projects.
