Belarus government considering crypto mining with excess energy supply

Belarusian President Aleksandr Lukashenko has directed newly appointed officials to prioritize energy infrastructure improvements and explore domestic cryptocurrency mining, citing an excess electricity supply and rising demand.

Speaking to newly appointed Energy Minister Aleksei Kushnarenko, Lukashenko stressed the need to update Belarus’ power grid, particularly 5,700km of networks crucial for homes and electric vehicles, according to local reporting. 

He noted that while high-voltage infrastructure is stable, other areas require reinforcement to prevent outages like those seen in the Gomel Region after recent storms. 

The government aims to ensure reliable electricity for 1,500 settlements.

This pro-crypto mining sentiment is not new, as Belarus’ Energy Minister, Viktor Karankevich, confirmed back in 2021 that the government explored the potential of using its excess energy supply for crypto mining. 

They reportedly conducted a detailed study on the feasibility and risks of mining would be conducted, noting the success of mining industries in countries like China, the USA, Canada, and Russia.

Expanding electricity use for heating and crypto mining

Lukashenko also pushed for greater use of electricity for heating and hot water, citing plans for a second nuclear power station. He framed this as a long-term strategy to meet public demand and provide a sustainable energy future for Belarus.

Addressing the potential for cryptocurrency mining, Lukashenko mentioned the country’s surplus power and growing global interest in digital assets, according to local reports.

He suggested Belarus could either attract investors to mine crypto or establish state-backed mining operations, asking officials to streamline regulations and propose actionable plans.