Home Cryptocurrency News Belarus president Lukashenko calls on state to mine cryptocurrency

Belarus president Lukashenko calls on state to mine cryptocurrency

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Belarusian President Alexander Lukashenko has known 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 assets to energy cryptocurrency mining, pointing to deserted industrial websites that may very well be used to generate income. Lukashenko stated:

“We should perceive, they don’t seem to be ready for us wherever […] Construct one thing primarily based on electrical energy. In any case, begin mining cryptocurrencies or no matter it’s known as. There’s sufficient electrical energy within the nation.”

The Petrikovsky plant is formally the largest funding mission of state-owned Belaruskali, one of many world’s largest producers of potash fertilizers, reportedly accounting for 20% of world provide as of 2019. The only Belarusian potash exporter, Belaruskali was sanctioned by the USA 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 business. 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.