Belarus reportedly considers surplus electricity for Bitcoin mining ventures
Belarus President Alexander Lukashenko has reportedly directed his administration to explore Bitcoin mining to capitalize on the countrys surplus energy, the state-owned national news agency BeITA reported on March 4.
According to the report, Lukashenko stressed that the country should use its excess electricity for crypto mining, pointing to increased demand and potential profitability.
The directive, announced during his appointment of Energy Minister Alexei Kushnarenko, highlights the governments growing interest in digital asset opportunities.
He noted that several proposals had reached his desk and referenced the United States plans for a national crypto reserve as a sign of the sectors growing importance.
The President stated:
Look at this mining. More and more people are turning to me. If it is profitable for us, lets do it. We have excess electricity. Let them make this cryptocurrency and so on.
Considering this, the President outlined two possible approaches for Belarus: either mining cryptocurrencies directly using state resources or selling electricity to investors for their mining operations.
Why Bitcoin mining?
The move to push 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.
Still, the moves are unsurprising, considering a recent study by the Perryman Group revealed that the 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 mining and energy research demonstrating its environmental benefits.
According to him, the study found that mining operations utilizing wasted, surplus, or renewable energy sources can help promote cleaner energy usage and reduce the carbon footprint of power production.
The findings indicate that Bitcoin mining aligns economic incentives with sustainability goals using stranded or renewable energy sources.
The research also challenges the perception of mining as an energy-intensive burden, instead framing it as a flexible mechanism that supports sustainable energy practices.
Additionally, it aligns with circular economy principles by maximizing resource utilization and minimizing waste.
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Text source: CryptoSlate
