Belarus plans to use excess electricity for crypto mining

Belarus President Alexander Lukashenko has instructed the country’s energy minister to assess cryptocurrency mining as a way to utilise surplus electricity.

According to a March 4 report by state media outlet BelTA, Lukashenko directed newly appointed Energy Minister Alexei Kushnarenko to evaluate the profitability of crypto mining.

“Look at this mining. If it is profitable for us, let’s do it. We have excess electricity. Let them make this cryptocurrency and so on,” Lukashenko said, according to a translated report.

The initiative comes as Belarus seeks to modernise its 5,700-kilometer power grid and boost economic output.

Lukashenko cited global trends in digital assets, pointing to the United States’ increasing integration of cryptocurrency into its financial system.

“You see the path the world is going. And especially the largest economy in the world. They announced yesterday that they will keep [cryptocurrency] in reserve,” he said.

Belarus has some of the lowest electricity costs in Europe, making it an attractive location for mining operations.

Government sources indicate that the country ranks among the three most affordable nations in Europe for electricity.

In December, the Ministry of Energy reported increased interest from crypto miners looking to set up operations in Belarus.

Former Deputy Energy Minister Denis Moroz previously said officials had engaged in early discussions with investors considering Belarus as a potential mining hub.

Despite the low energy costs, crypto mining profitability in 2025 remains dependent on electricity prices, regulatory conditions, and market fluctuations.

Sustained declines in cryptocurrency prices, along with energy expenses and hardware efficiency, continue to impact mining margins globally.