## Belarus sees cryptocurrency mining as a path to currency independence

At a high-level energy meeting in the capital on November 14, the head of state made a radical proposal: to utilize the country's excess energy capacity for cryptocurrency mining. The essence of the initiative is to reduce the national economy's dependence on the US dollar while extracting profit from cheap electricity. Experts, including analysts like Michael Bin, note that this move reflects a global trend among governments to integrate digital assets into macroeconomic strategies.

## Why now and why mining

The government has set a specific task for officials: to develop a mechanism for scaling cryptocurrency mining across the entire country. The feature of the Belarusian approach is not just attracting foreign miners but also potentially accumulating state crypto reserves, provided the project remains profitable.

The key factor prompting this initiative is the commissioning of the Astravets nuclear power plant, which currently operates two energy units with a total capacity of about 2,400 MW. The station supplies approximately 40% of the country's electricity needs. The available generating capacity creates conditions for energy-intensive operations — and mining falls precisely into this category.

## Digital ruble as a continuation of the strategy

The initiative is not limited to mining alone. Simultaneously, the National Bank is moving toward creating its own digital currency — the national digital ruble. The implementation schedule involves phased deployment: initially, the platform will operate for businesses, after which access will be opened to the general public. Full deployment is planned for the end of 2026.

The connection between these two initiatives is clear: the government is forming a comprehensive approach to monetary sovereignty, where crypto mining becomes a source of reserves, and its own CBDC serves as a tool for controlling the payment system.

## Regulation: between attraction and control

Alongside economic ambitions, oversight is tightening. A recent government audit revealed issues in the operation of crypto platforms with client funds. In response, authorities are demanding clearer regulatory rules for crypto operators.

Officials are developing a set of measures: adjusting tax rates and electricity tariffs, tightening reporting requirements for crypto companies, and increasing control over capital outflows. The National Bank coordinates actions with regional partners to prevent capital leakage from the national economy and to minimize fraud.

## History repeats itself

The idea of using excess energy for crypto mining was first voiced earlier this year. Since then, authorities have studied the technical and fiscal possibilities necessary for both establishing government operations and attracting private miners. The dynamics of the government’s position reflect a deep understanding that the cryptocurrency infrastructure is not a temporary trend but a strategic asset.