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Belarusian President Aleksandr Lukashenko has made cryptocurrency mining a national priority, directing officials to use surplus electricity from the country’s nuclear power plant to produce digital assets as part of a broader strategy to reduce dependence on the U.S. dollar.
During a November 14 government meeting in Minsk, Lukashenko dismissed concerns about crypto volatility and framed mining as preparation for what he called an inevitable global shift away from dollar dominance.
“Our entire world is now grappling with a global problem, namely moving away from dependence on a single currency, the dollar,” he told officials. “Cryptocurrency is probably one of the options.”
Belarus, which faces international sanctions over its authoritarian government and close ties to Russia, has been seeking alternative economic strategies. The crypto mining push leverages the country’s Russian-built nuclear power plant, which came fully online in 2023 amid regional energy supply concerns.
Lukashenko’s renewed endorsement follows months of groundwork aimed at turning Belarus into a competitive mining hub—efforts consistently tied to Belarus crypto mining expansion.
In March, he directed Energy Minister Alexei Kushnarenko to prioritize electricity surpluses for crypto production. He also referenced developments abroad, including the U.S., where President Donald Trump announced intentions to create a national Bitcoin reserve.
“We can see the direction the world is heading in, especially the largest economy in the world,” Lukashenko said at the time, suggesting that Belarus could eventually consider establishing its own national crypto reserve.
The foundation for Belarus crypto mining expansion is the Belarusian Nuclear Power Plant, which reached full operational capacity of 2,400 megawatts after the activation of its second unit in November 2023. This upgrade resolved previous electricity constraints that had hindered earlier mining proposals in the country’s Hi-Tech Park.
The availability of stable, low-cost nuclear energy has drawn interest from Russian and Chinese investors, who are reportedly exploring participation in Belarus-based mining projects. The feasibility of Belarus crypto mining expansion has been strengthened by incentivized electricity tariffs made possible through the expanded power output.
Beyond mining, Belarus plans to launch a Central Bank Digital Currency by late 2026, with gradual onboarding from businesses to public institutions and, eventually, citizens in 2027.
The digital ruble initiative is closely aligned with Russia’s own CBDC program, although Moscow recently postponed its launch to mid-2026 due to technical delays.
Belarus’ strategy unfolds against a backdrop of accelerating global de-dollarization—context that reinforces the rationale for Belarus crypto mining expansion. Investment firm VanEck reported that China and Russia have begun using Bitcoin and other digital assets for some energy transactions, while Bolivia revealed plans to import electricity using cryptocurrencies.
These developments intensified during heightened trade tensions between the U.S. and China. When the Trump administration imposed a 125% tariff on Chinese imports, Bitcoin surged 5.6% to $81,636 within an hour. China responded by raising tariffs on American goods from 34% to 84% on April 9. A temporary easing of tensions came on May 12, when both countries lowered tariffs.
Meanwhile, the U.S. Dollar Index dropped more than 9% year-to-date to 99, reinforcing Bitcoin’s appeal as a hedge against geopolitical and monetary instability.
Across Asia, the shift is also pronounced. UBS executive Amy Lo noted that regional billionaires are reallocating wealth from the U.S. dollar into Bitcoin, gold, and Chinese markets. Asia’s wealthy investors now hold more than 15% of their portfolios in crypto and gold, driven by concerns about the dollar’s future role.
A Cryptonews report noted that 76% of Asia’s high-net-worth investors and family offices now hold digital assets—up from 58% in 2022. Many have increased their crypto allocations from under 5% to more than 10%.
Singapore leads this trend, with 57% of wealthy investors planning to expand their digital asset exposure over the next two years. Regional wealth is expected to rise from $2.7 trillion in 2021 to $3.5 trillion by 2026, offering further momentum to global crypto adoption—and, indirectly, to strategies such as Belarus crypto mining expansion.
As global financial structures shift, Belarus crypto mining expansion remains at the center of Minsk’s energy and monetary strategy. With surplus nuclear power, coordinated CBDC development, and growing investor interest, the country is positioning itself within an evolving global crypto landscape.
