Belarusian President instructs to develop cryptocurrency mining industry to utilize excess electricity

On March 6th, according to Cointelegraph, Belarusian President Alexander Lukashenko has instructed the new Energy Minister Alexei Kushnarenko to start developing the country's cryptocurrency mining industry to utilize the country's surplus electricity resources. Lukashenko said, "If it's profitable for us, then start taking action. We have surplus electricity. Let them mine these cryptocurrencies This decision was announced shortly after Lukashenko formed a new government, prioritizing the renovation of the country's 5700 kilometer long power grid. According to the Belarusian government, the country is one of the three cheapest countries in Europe in terms of electricity prices, which has sparked interest among cryptocurrency miners. Former Deputy Minister of Energy Denis Moroz revealed that government officials have held preliminary consultations with investors who see Belarus as a potential mining center.