Belarus is considering crypto mining using surplus nuclear energy from the Astravets Nuclear Power Plant. With excess electricity and low costs, the country could follow Bhutan’s model of state-backed crypto mining
Belarus is exploring cryptocurrency mining as a way to utilize its surplus electricity, primarily generated by the Astravets Nuclear Power Plant, the Belarusian Telegraph Agency (BelTA) reported.
Government Considers Crypto Mining to Monetize Excess Energy
President Alexander Lukashenko has instructed officials to examine how the country can leverage its excess power for cryptocurrency mining. The Astravets plant, which began operations in 2023, produced 41.8 billion kWh of electricity last year exceeding domestic demand by 700 million kWh.
Lukashenko’s directive suggests multiple options, including state-controlled mining or selling electricity to private firms. Belarus’s strategy aligns with Bhutan’s hydro-powered mining model and El Salvador’s geothermal bitcoin initiatives, but with a key difference its reliance on nuclear energy.
Low Energy Costs Could Attract Miners Despite Uncertainties
Belarus boasts some of the lowest electricity costs in Europe, a factor that could attract crypto miners despite regulatory unknowns. However, the country’s dependence on a $10 billion Russian-financed nuclear project introduces geopolitical considerations that may complicate global engagement.
While Lukashenko has emphasized profitability, details on regulatory frameworks and mining operations remain unclear. His previous remarks indicate Belarus may also explore a state-backed digital currency, reflecting a broader trend of nations leveraging energy surpluses for crypto ventures.
Global Trends and Strategic Implications
Lukashenko has acknowledged global shifts, pointing to former U.S. President Donald Trump’s recent suggestion of a strategic cryptocurrency reserve. His comments echo previous statements about declining reliance on the U.S. dollar, signaling Belarus’s interest in alternative financial strategies.
With Bhutan’s success in hydropower-driven mining and El Salvador’s geothermal experiments, Belarus’s nuclear-powered crypto initiative could mark a significant development in state-backed mining.
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