Belarus president Lukashenko calls on state to mine cryptocurrency

189
SHARES
1.5k
VIEWS

Related articles



Belarusian President Alexander Lukashenko has referred to as on the federal government to mine cryptocurrency use spare energy infrastructure.

Lukashenko spoke on the opening of the Petrikovsky mining and processing plant on Aug. 27, urging staff to maneuver into crypto mining in Belarus as a substitute of pursuing low-paying farming positions overseas, Russian information company RBC reported.

The president mentioned that Belarus has sufficient electrical energy sources to energy cryptocurrency mining, pointing to deserted industrial websites that may very well be used to generate income. Lukashenko stated:

“We should perceive, they aren’t ready for us wherever […] Construct one thing based mostly on electrical energy. In spite of everything, begin mining cryptocurrencies or no matter it’s referred to as. There may be sufficient electrical energy within the nation.”

The Petrikovsky plant is formally the largest funding mission of state-owned Belaruskali, one of many world’s greatest producers of potash fertilizers, reportedly accounting for 20% of worldwide provide as of 2019. The only real Belarusian potash exporter, Belaruskali was sanctioned by the US authorities in mid-August, amongst different punitive measures towards President Lukashenko.

Associated: New project aims to bring global crypto miners to Russia

Lukashenko’s newest name for crypto mining follows a number of efforts of the Belarusian authorities to maneuver into the rising cryptocurrency mining trade. In February, the Ministry of Vitality of the Republic of Belarus mentioned that it was investigating the risks and benefits of crypto mining for a possible transfer into the sector. In April 2019, Lukashenko proposed to deploy excess energy from the nation’s first nuclear energy plant to mine cryptocurrencies and promote them.