Belarusian President Lukashenko calls on the state to mine cryptocurrencies

Belarusian President Alexander Lukashenko has requested the authorities to mine cryptocurrencies with a backup power infrastructure.

Lukashenko spoke at the opening ceremony of the Petrikovsky mining and processing plant on Aug. 27, calling on staff in Belarus to change to cryptocurrency mining as an alternative to pursuing low-paid agricultural positions in the nation Russian information company RBC reported.

The president mentioned Belarus has sufficient electrical energy to function cryptocurrencies mining and pointed to deserted industrial websites that might generate income. Lukashenko says:

“We have to understand; they are nowhere waiting for us […] Build something based on electricity. Finally, let’s start mining cryptocurrency or whatever it is called. There is enough electricity in the country”.

The Petrikovsky plant is formally the largest funding in the state-owned Belaruskali, one among the world’s largest producers of potash fertilizers, which can account for 20% of the world’s provide as of 2019. Belaruskali, the sole exporter of potash Belarus, was sanctioned by the US authorities in mid-August in opposition to President Lukashenko, amongst different issues.

Related: New mission goals to carry world crypto miners to Russia.

Lukashenko’s latest crypto-mining name follows several efforts by the Belarusian authorities to get into the burgeoning crypto mining trade. In February, the Ministry of Energy of the Republic of Belarus introduced learning the dangers and advantages of cryptocurrency mining for a potential entry into the sector. In April 2019, Lukashenko proposed utilizing extra power from the nation’s first nuclear energy plant to mine and promote cryptocurrencies.

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