Belarus President Alexander Lukashenko has instructed his administration to explore Bitcoin mining as a means to take advantage of the country’s surplus energy, according to a report by the state-owned national news agency BeITA. Lukashenko emphasized the need for the country to utilize its excess electricity for crypto mining, citing the growing demand and potential profitability in the sector. The President’s directive, announced during the appointment of Energy Minister Alexei Kushnarenko, demonstrates the government’s increasing interest in digital asset opportunities. Lukashenko also referenced the United States’ plans for a national crypto reserve as evidence of the sector’s growing importance. He stated, “If it is profitable for us, let’s do it. We have excess electricity. Let them make this cryptocurrency and so on.” The President outlined two possible approaches for Belarus: direct mining of cryptocurrencies using state resources or selling electricity to investors for their mining operations.
The decision to focus on Bitcoin mining aligns with a broader trend of government involvement in the crypto sector. Countries like Russia have implemented regulations to manage mining activities and integrate them into formal economic structures. This move is not surprising, considering a recent study by the Perryman Group, which revealed that the Bitcoin mining sector has contributed over 31,000 jobs and generated more than $4.1 billion annually in gross economic output for the US.
Bitcoin environmentalist Daniel Batton highlighted new peer-reviewed research that demonstrates the environmental benefits of mining. The study found that mining operations utilizing wasted, surplus, or renewable energy sources can promote cleaner energy usage and reduce the carbon footprint of power production. This indicates that Bitcoin mining aligns economic incentives with sustainability goals by utilizing stranded or renewable energy sources. The research challenges the perception of mining as an energy-intensive burden and instead presents it as a flexible mechanism that supports sustainable energy practices. It also aligns with circular economy principles by maximizing resource utilization and minimizing waste.
