Belarus President will Mine Bitcoin Using Country’s Nuclear Power

Despite the fact that the profitability of mining over the past year has decreased significantly, Belarus does not refuse from the previously announced plans for the development of the digital economy. The country is rich in resources and has relatively cheap energy for the implementation of the mining of cryptocurrency. At a meeting with representatives of the information technology industry, President of Belarus Alexander Lukashenko spoke about his intentions to continue supporting digitization of the country's economy. According to the head of state, a nuclear power plant is currently being built in the country, the surplus power of it will be used for mining Bitcoin:

“We will launch the atomic station and there will be surplus energy. I have left some space there – we’ll build farms and we’ll be mining and selling those bitcoins. They say if you have bitcoin it’s not a problem to sell it, right?”

In the past, Belarus has already legalized cryptocurrencies by signing a decree “On the Development of the Digital Economy” and the creation of the High-Tech Park (HTP). To stimulate the development of the cryptocurrency industry, a grace period was established, which will end on January 1, 2023. The country also launched a platform through which users can purchase tokenized securities. According to the document, legal entities of the country received permission to carry out a number of operations with tokens, and cryptocurrency exchanges - to open bank accounts for conducting activities. Belarus conducts friendly crypto-politics and seeks to obtain the title of a global IT center that attracts companies and entrepreneurs from around the world. We want to remind you: https://thecoinshark.net/a-bank-backed-crypto-exchange-might-launched-in-the-republic-of-belarus/ Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/