Belarus President Orders National Cryptocurrency Mining: ”We Have Surplus Power”

The President of Belarus has ordered the use of the country's surplus electricity for the cryptocurrency mining industry. Alexander Lukashenko
Belarusian President Alexei Lukashenko has announced that he will be taking office as the new president of the country.
Kushnarenko, the country's energy minister, to develop the country's cryptocurrency mining industry and to reduce surplus
He made clear his intention to use electricity to generate additional revenue. President Lukashenko said, "Look at the extractive industries. If it is profitable for us, let's do it. We have electricity left.
Let them create a cryptocurrency," he said, noting that the decision was inspired by the United States. He said the United States had been led by Donald Trump.
After being elected President Trump declared that the country would become a "cryptocurrency-centric nation" and launched a cryptocurrency exchange consisting of Bitcoin, Ethereum and other altcoins.
He noted that he is promoting the idea of creating a national cryptocurrency reserve. "Look at the way the world is going. Look at the world's largest economy in particular (the United States). Yesterday, they announced that they would set aside cryptocurrency as a reserve," he said.
"We have announced that we will hold the power," he said. President Lukashenko recently formed a new government and has made the restructuring of the country's 5,700 km-long power grid his number one priority.
"Given the growing demand for electricity in households and the economy at large, modernizing our power grid infrastructure is of utmost importance," he said.
Meanwhile, Belarus is known as one of the countries with the lowest electricity costs in Europe. According to a Belarusian government source, Belarus has the lowest electricity prices in Europe.
This has attracted the attention of cryptocurrency miners, with the Belarusian Ministry of Energy reporting in December that it had confirmed such demand.