Belarus president Lukashenko wants to promote cryptomining

Because of a surplus of electricity, Belarusian President Alexander Lukashenko has instructed his energy minister to promote the national crypto-mining industry, according to a report by a local media company. "Take a look at this mining," Lukashenko said, according to a translation of the report. He added: "If it is profitable for us, we should do it. We have a surplus of electricity. Let them produce this cryptocurrency and so on."

According to recent data from GlobalPetrolPrices Belarusian households currently pay only 7 cents per kilowatt-hour, compared to the 37 cents paid in Germany. Lukashenko also seems to have taken note of Trump's crypto reserves: "You see the direction the world is going. And especially the largest economy in the world," he said in reference to the crypto transition in the United States.

The United States is also the world leader in Bitcoin mining. By December 2024, 36 percent of global hashrate originated in the US. At the same time, 6 of the 10 largest publicly traded mining companies are based in the "Land of the Free. At the top is Marathon Digital, which recently reported record figures and significantly expanded its Bitcoin reserves.