Belarus President Lukashenko has directed the Minister of Energy to advance the development of the country’s cryptocurrency mining industry. It is believed that the purpose is to secure a new series of taxes by using additional electricity.
According to local media Belta reports, President Lukashenko has informed Minister of Energy Kishninko about this policy.
“Let’s take a look at the mining,” said President Lukashenko, “If we benefit from it, we should do it. We have extra electricity. Just let them make cryptocurrency.”
President Lukashenko also said it was affected by the United States. After President Trump’s election, the United States has declared its purpose to become a global capital for crypto currencies, and as a part of it, it is developing Cryptocurrency reserves using BitCoin (BTC) and the opposite coins.
“We must look in the direction of the world, especially the world’s largest economy. He announced yesterday that he will hold cryptocurrency as a reserve.”
President Lukashenko announced a policy to consider the possibility of cryptocurrency mining shortly after the start of the new government. The administration has preferred the renovation of the power grid, which is 5,700 km long. “The most important thing is to improve the grid infrastructure, keeping in view the increasing demand for electricity in home and economy,” said President Lukashenko.
Cryptocurrency mining in 2025
Even in 2025, cryptocurrency mining will continue to be a profitable industry, but profit margins are under pressure due to energy costs, hardware performance and regulations.
The market environment also has a significant impact on profits, and if the prices of mining coins continue to decrease, the revenue can be damaged.
Belarus is known as one of the lowest costs in Europe with electricity costs. According to Belarus government information, the country’s electricity prices are among the three cheap countries in Europe.
The number of cryptocurrency miners that focuses on this abundant, low -cost electricity is increasing, and the Ministry of Energy has allegedly recognized the growing interest in December last year. Former Deputy Minister of Energy Dennis Moroz said officials have already had a preliminary conversation with investors, and they look for the possibility of Belarus as a mining center.
