Belarus Considers Cryptocurrency Mining Amid Growing Global Interest
The President of Belarus, Aleksandr Lukashenko, has opened the door to the possibility of the Eastern European nation embarking on cryptocurrency mining initiatives. During a recent discussion with the newly appointed Minister of Energy, Alexei Kushnarenko, Lukashenko expressed, “Look at this mining. More and more people are turning to me. If it is profitable for us, let’s do it. We have excess electricity. Let them make this cryptocurrency and so on,” as reported by the Belarusian news outlet Belta.
This announcement comes at a time when the U.S. government is exploring the idea of establishing a national strategic cryptocurrency reserve, which could potentially encompass various digital currencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA).
Lukashenko also highlighted the growing interest in cryptocurrencies from global powers, saying, “You see the path the world is going. And especially the largest economy in the world. They announced yesterday that they will keep [a crypto] reserve.” He further added, “Therefore, there will be demand for them. Well, maybe we should do it ourselves.” This statement underscores Belarus’ ambition to participate in the evolving landscape of digital currencies.
Belarus would not be the first nation to venture into cryptocurrency mining. The Kingdom of Bhutan, leveraging its abundant hydropower resources, has already established over 100 megawatts (MW) of operational Bitcoin mining infrastructure and is poised to add another 500 MW of capacity. Currently, Bhutan holds approximately $950 million in Bitcoin, as reported by Arkham Intelligence.
On another front, El Salvador has been using geothermal energy to mine Bitcoin, albeit in smaller quantities, showcasing the potential of renewable energy sources in the cryptocurrency sector.
Disclaimer: The information in this article was translated using Google Translate from a foreign language source.
