President Alexander Lukashenko has directed officials to explore cryptocurrency mining as a means to utilize the country’s surplus electricity, generated largely by the Astravets Nuclear Power Plant, BelTA reported March 4, 2025. The plant, operational since 2023, produced 41.8 billion kWh of electricity last year, exceeding domestic consumption by 700 million kWh.

Lukashenko’s translated statement — “We have excess electricity. Let them make this cryptocurrency” — as reported by BelTA, signals a strategic shift to monetize unused energy, with options including state-backed mining or selling electricity to private firms. Belarus’s approach mirrors El Salvador’s planned geothermal-powered bitcoin mining and Bhutan’s operational hydropower-driven operations.

However, Belarus’s reliance on nuclear energy is different. Financed by a $10 billion Russian loan, it could introduce geopolitical complexities if leveraged. While Lukashenko emphasized profitability, specifics like the nation’s regulatory frameworks and cryptocurrency targets remain unclear. Analysts note Belarus’s electricity costs rank among Europe’s lowest, potentially drawing miners despite regulatory uncertainties.

Meanwhile, Belarus’s alignment with Russia amid Western sanctions raises questions about the plan’s viability in global markets. The proposal highlights a growing trend of nations monetizing energy surpluses through crypto, though challenges persist. With Bhutan’s success, Belarus’s nuclear experiment could chart an interesting path forward.

Lukashenko reportedly observed that he discerns global shifts, citing U.S. President Donald Trump’s recent disclosure of plans to establish a strategic cryptocurrency reserve as evidence of such trends taking shape. This development coincides with Lukashenko’s recent remarks, reported by BelTA on at the end of January, when he suggested the nation might develop a sovereign digital currency. In May 2024, Lukashenko also claimed several countries were questioning the use of the U.S. dollar.

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