Lukashenko encourages cryptocurrency mining
Lukashenko encourages cryptocurrency mining Lukashenko encourages cryptocurrency mining

Belarusian President Alexander Lukashenko wants to use cheap electricity to mine cryptocurrencies. He also believes that digging cryptocurrencies is a better option for Belarusians than going abroad for work.

Lukashenko gives two key arguments: the surplus of cheap electricity and the fact that Belarusians cannot count on good jobs abroad.

Digging cryptocurrencies is better than picking strawberries

At a meeting with workers, the Belarusian president said that Belarusians are not perceived well abroad and the only job they can count on is poorly paid work in agriculture. He cites jobs picking strawberries in Poland and Germany as examples.

Alexander Lukashenko a supporter of cryptocurrencies?

At the same time, Alexander Lukashenko has valuable advice for Belarusians to start… mining cryptocurrencies.

“Bet on electricity and start digging cryptocurrency, or whatever it is called. There is enough electricity in the country.”

The president suggests using abandoned production facilities, which are located in the city of Petrykovo, to mine cryptocurrencies.

Cryptocurrencies in Ukraine

In 2018, a decree on the development of the digital economy took effect in Belarus. Among other things, this resulted in the introduction of tax breaks for transactions carried out via cryptocurrencies. In turn, two years ago we described the plans that Belarusbank was floating in connection with the launch of a cryptocurrency exchange. For more information, see the article: the largest bank of Belarus intends to open a cryptocurrency exchange.

Digging cryptocurrencies in Poland and around the world

Just a few months ago, the key player when it comes to cryptocurrency digging was China. However, changing regulations and the introduction of bans forced miners to shut down their operations and move their equipment to other countries. It is likely that the relocation work has already been completed, as evidenced by the recent large increase in the hash rate of the Bitcoin network. At the end of last month, the Polish media was abuzz about a computer scientist who took to digging cryptocurrencies at work. The problem was that he worked at the Police Headquarters.

It is also worth mentioning plans to use a non-standard energy source, without which it is impossible to mine cryptocurrencies. About the idea of the presidencynta of El Salvador Nayib Bukele we wrote in the article digging bitcoin using energy from volcanoes.