Belarus President Alexander Lukashenko has instructed his power minister to start creating the nation’s cryptocurrency mining business, signaling a rising intent to generate further income streams from the nation’s extra power provides.
Based on a March 4 report by native media outlet BelTA, President Lukashenko handed on the directions to the newly appointed minister of power, Alexei Kushnarenko.
“Have a look at this mining,” Lukashenko mentioned, in keeping with a translated model of the report. “Whether it is worthwhile for us, let’s do it. We have now extra electrical energy. Allow them to make this cryptocurrency and so forth.”
Belarusian President Lukashenko addresses his new authorities. Supply: BelTA
The pinnacle of state drew inspiration from the USA, which has vowed to turn into the crypto capital of the world following the election of President Donald Trump. This consists of the creation of a national crypto reserve made up of Bitcoin (BTC), Ether (ETH) and different altcoins.
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“[Y]ou see the trail the world goes. And particularly the biggest economic system on the planet. They introduced yesterday that they are going to hold [cryptocurrency] in reserve,” Lukashenko mentioned.
The choice to analyze crypto mining was introduced shortly after Lukashenko fashioned his new authorities, the place he prioritized renovating the nation’s 5,700-kilometer energy grid.
“An important factor is to improve the ability grid infrastructure making an allowance for the rising demand for electrical energy from households and economic system,” mentioned Lukashenko.
Crypto mining in 2025
Though cryptocurrency mining stays generally profitable in 2025, the business’s margins are squeezed by power prices, {hardware} effectivity and laws. Market situations additionally play a job as sustained worth drops within the worth of mined cash can negatively impression profitability.
Belarus is thought for having low-cost power prices in comparison with the remainder of Europe. Based on Belarussian authorities sources, Belarus is amongst Europe’s three most reasonably priced international locations for electrical energy costs.
Belarus’ low-cost and plentiful power has piqued the curiosity of crypto miners, the Ministry of Vitality reportedly said in December.
Authorities officers have already had preliminary consultations with buyers who're Belarus as a possible mining hub, in keeping with former Deputy Vitality Minister Denis Moroz.
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