The newly formed Belarusian government aims to leverage excess electricity for developing crypto mining, aligning with a global trend in this area.
Belarus's Crypto Mining Plans
President of Belarus Alexander Lukashenko has tasked the new Minister of Energy, Alexei Kushnarenko, with the development of the crypto mining industry in the country. According to a BelTA report, Lukashenko emphasized the importance of utilizing the current electricity surplus. He pointed out the need to explore crypto mining as a potentially profitable avenue, especially considering the supportive policies in the United States.
Bhutan's Experience in Crypto Mining
Bhutan, a small Himalayan country, has already dived into crypto mining and currently holds significant volumes of cryptocurrencies. According to Arkham Intelligence, Bhutan possesses about 10,600 BTC and 160 ETH. Unlike other countries that mined through confiscation or purchase, Bhutan extracts it independently using hydropower resources.
Belarus's Prospects
Belarus's decision to explore crypto mining highlights the increasing trend among countries with energy surpluses to consider digital assets as profitable financial instruments. Together with a well-developed infrastructure and governmental support, the country stands a favorable chance to emulate Bhutan's success in creating a sustainable crypto mining ecosystem.
Optimizing energy usage and developing crypto mining can become crucial steps for Belarus in bolstering its economy and transitioning to digital financial instruments.
