Belarus President Urges Belarusians To Mine Cryptocurrency

Spotlight

  • The president of Belarus called on the government to mine cryptocurrency using a backup power supply infrastructure in the country.
  • Alexander Lukashenko encouraged the workers to switch to cryptocurrency mining in Belarus, and not look for low-paying agricultural work abroad.
  • The Ministry of Energy of the Republic of Belarus announced that it is studying the possible risks and benefits of mining cryptocurrency for potential opportunities.

Alexander Lukashenko, the president of Belarus called on the government to mine cryptocurrency using a backup power supply infrastructure in the country. On the 27th of August RBC reports that Alexander Lukashenko spoke at the opening of the Petrikovsky mining and processing plant earnestly encouraging the workers to switch to cryptocurrency mining in Belarus, and not look for low-paying agricultural work abroad. The President states that Belarus has enough electricity to mine cryptocurrency. He pointed to abandoned industrial facilities that can be used to generate income. He further said:

“We must understand, they are not waiting for us anywhere […] Build something based on electricity. After all, start mining cryptocurrencies or whatever it’s called. There is enough electricity in the country.”

The Belarusian leader visited Pietrykaw which is a town in the southern Gomel region. There while attending the opening ceremony of a mining and processing plant, he addressed and pointed out that the area there can become an industrial site. He also asked the audience to use the excess energy and space to build greenhouses adding:

“Create something on electricity. In the end, start mining cryptocurrency or whatever it’s called. There is enough electricity in the country.”

Also From Belarus

Moreover, the Petrikovsky plant is now officially the largest investment in Belaruskali. It is one of the world’s largest producers of potash fertilizers. It accounted for 20% of global supplies in the year 2019. Also, Belaruskali, the only Belarusian exporter of potash fertilizers, came under US government sanctions in mid-August, among other sanctions against President Lukashenko.

Lukashenko’s this suggestion for Belarusians to enter into the crypto mining field follows numerous attempts by the Belarusian government. They want to enter the burgeoning crypto mining industry. In February this year itself, the Ministry of Energy of the Republic of Belarus announced that it is studying the possible risks and benefits of mining cryptocurrency for potential opportunities.

Also in April 2019, Alexander Lukashenko put forward an amazing idea. They can put to use all the excess energy from Belarus’s first nuclear power plant to mine cryptocurrencies and then sell them.

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