Belarusian Authority Deep-dive Into Possible Presence Across Crypto Mining Sector

By Shannon Wilson | March 9, 2021

Belarus is reportedly deep-diving into the crypto sphere, in preparation to potentially establish its presence into mining digital coins, such as Bitcoin (BTC).

Specifically,  a spokesperson for the Ministry of Energy of the Republic of Belarus reportedly disclosed that the agency is putting in extensive resources in deep-diving into the advantages and setbacks of crypto mining. 

Minister Viktor Karankevich reportedly remarked that the crypto mining sphere is witnessing accelerated development throughout the globe, across different nations, nominally China, the United States, Canada and Russia.

The minister reportedly continued to share that the authority is looking into the possibility of entering the mining sector, following an investigation of the potential risks and other factors. 

“This is a new direction for us now. It is interesting but in order to get started with it, we have to conduct a detailed study of this issue, including an assessment of possible risks associated with this kind of activity. We’re on this.”

The Belarusian authority has reportedly been spending efforts in studying crypto mining for quite some time. In April 2 years ago, president Alexander Lukashenko reportedly proposed to carry out the deployment for excess energy from the nation’s first nuclear power plant, dedicated to cryptocurrency mining and place them up for purchases. 

Belarus has reportedly been looking to establish its reputation as a pro-crypto nation throughout the past years. In 2017, Lukashenko reportedly put his signature on a decree on the development of the digital economy, offering legal status for major crypto-associated businesses, nominally mining, buying and selling, as well as trading.

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