Michaela
Belarusian President Alexander Lukashenko has ordered Energy Minister Aleksei Kushnarenko to develop the country’s crypto mining industry, emphasizing the use of excess electricity to power mining operations while strengthening Belarus’ energy grid.
According to a March 4 report by Belarusian media outlet BelTA, President Lukashenko issued instructions to Kushnarenko, who recently assumed his role.
“If it is profitable for us, let’s do it. We have excess electricity. Let them make this cryptocurrency and so on. Moreover, you see the path the world is going,” Lukashenko said, according to the translated version of the report.
President Lukashenko cited the United States as an example, noting its recent efforts to establish itself as a global leader in cryptocurrency, aligning with President Donald Trump’s campaign commitments to advance the industry.
Announced on his social media platform Truth Social, President Trump revealed that his proposed U.S. Crypto Reserve could include Bitcoin (BTC), Ethereum (ETH), and other digital assets as part of his broader goal to position the United States as the “Crypto Capital of the World.”
“They announced yesterday that they will keep [cryptocurrency] in reserve. Therefore, there will be demand for them. Well, maybe we should do it ourselves,” President Lukashenko stated.
Belarus stands out as one of the most energy-affordable nations in Europe, offering low-cost and abundant electricity. This competitive advantage has drawn significant interest from cryptocurrency miners, according to a December statement from the Ministry of Energy.
“Well, we attract some investors, sell them electricity, although I do not rule it out. But we need to do it ourselves. There are such proposals. I think that you will step over this bureaucracy and report what needs to be done,” President Lukashenko added.
Nations Expand Crypto Mining
Belarus is joining a growing list of countries exploring cryptocurrency mining as part of their economic strategy.
In February, Aisen Nikolaev, head of the State Council Commission on Energy and leader of the Republic of Sakha, proposed the construction of dedicated power plants for cryptocurrency mining in Russia. The initiative aims to separate mining operations from public energy grids, preventing strain on local infrastructure.
Nikolaev also suggested that regional authorities could develop exclusive power facilities solely for crypto mining, ensuring minimal impact on residential and commercial energy consumption.
As crypto mining evolves, countries are balancing economic benefits, environmental concerns, and regulatory oversight, shaping the future of the industry in 2025 and beyond.
Read More
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
