Belarus Embraces Crypto Mining with Lukashenko’s Bold Initiative

Belarus President Alexander Lukashenko has called for the nation to begin mining Bitcoin and other cryptocurrencies, capitalizing on the country’s excess electricity. The announcement, highlighted in a recent address on March 5, 2025, reflects Belarus’s strategic push to leverage its resources in the growing cryptocurrency sector.

Lukashenko’s statement, “If it is profitable for us, let’s do it. We have excess electricity. Let them make this cryptocurrency and so on,” underscores a pragmatic approach to exploring new economic opportunities.

This initiative builds on Lukashenko’s earlier comments from 2021, when he encouraged the use of deserted industrial sites for crypto mining. At the time, he emphasized the potential of these locations to support energy-intensive operations while addressing underutilized infrastructure. The recent call to action reaffirms Belarus’s commitment to integrating blockchain technology into its economic strategy, a direction solidified by the country’s 2017 decree legalizing cryptocurrency transactions, including mining and exchanges.

That legislation, enacted under Decree No. 8, positioned Belarus as a forward-thinking player in the global crypto landscape, even as many jurisdictions worldwide remain uncertain about regulating digital currencies.

Profitability and Challenges

The decision comes at a time when cryptocurrency mining’s profitability is under scrutiny in 2025. Industry analyses suggest that while mining can still be viable, it faces challenges such as rising energy costs, increasing hardware demands, and market volatility.

Belarus’s abundance of excess electricity could provide a competitive advantage, potentially lowering operational costs and making the venture economically appealing. However, the environmental impact of crypto mining remains a global concern, with some networks such as Bitcoin mining consuming energy comparable to that of small countries. Belarus’s approach may prompt discussions on balancing economic benefits with sustainability, particularly as the nation seeks to position itself as a leader in the digital economy.

Lukashenko’s latest move signals Belarus’s intent to adapt to the evolving financial landscape, drawing attention from crypto enthusiasts and policymakers alike as the country navigates the complexities of this transformative technology.