Belarus Considers Cryptocurrency Mining Amid Global Interest

According to CoinDesk, Belarusian President Aleksandr Lukashenko has suggested that Belarus might explore cryptocurrency mining, citing the country's surplus electricity as a potential advantage. In a conversation with Alexei Kushnarenko, the newly appointed Minister of Energy, Lukashenko expressed openness to the idea if it proves profitable. He noted the increasing interest in cryptocurrency mining and the potential benefits for Belarus. This development coincides with the U.S. government's exploration of establishing a national strategic crypto reserve, which could include major cryptocurrencies like bitcoin (BTC), ether (ETH), solana (SOL), ripple (XRP), and cardano (ADA). Lukashenko referenced the U.S. interest in cryptocurrencies, highlighting the global trend towards digital assets and the potential demand they could generate. He suggested that Belarus might consider following this path to capitalize on the growing interest in cryptocurrencies. Belarus would not be the first nation to engage in cryptocurrency mining. Bhutan, leveraging its abundant hydropower resources, has already established over 100 megawatts (MW) of bitcoin mining infrastructure and plans to expand with an additional 500MW. Bhutan's current bitcoin holdings are valued at approximately $950 million, as reported by Arkham Intelligence. Similarly, El Salvador utilizes geothermal energy for bitcoin mining, albeit on a smaller scale. These examples illustrate the increasing global interest in cryptocurrency mining and the potential economic benefits for countries with suitable resources.