The Republic of Belarus’ Ministry of Energy division officially confirmed today that it is rigorously investigating the advantages and disadvantages of cryptocurrency mining. Viktor Karankevich, an executive of the Ministry, recently stated that the crypto mining industry is booming worldwide, especially in countries like the United States, Russia, Canada, and of course, China.
The Minister adds that crypto-mining could be a new profitable avenue for them. However, while it may prove exciting to start engaging with the industry, the Belarusian government admits that it still needs intensive tests to identify its risks and apparent benefits fully.
The government of Belarus has been exploring the concepts of crypto mining for quite some time now. Last April 2019, Belarusian President Alexander Lukashenko purportedly wanted to deploy the country’s inaugural nuclear power plant’s excess energy to mine cryptos and subsequently trade them effectively. With that, the government hopes to position Belarus as a viable destination for any crypto-related ventures.