Russian, Chinese investors interested in cryptocurrency mining in Belarus

MINSK, 20 December (BelTA) – Russian and Chinese investors show interest in mining cryptocurrencies in Belarus. Belarusian Energy Minister Viktor Karankevich made the statement in BelTA's press center.

Viktor Karankevich said: “The use of electricity by data centers or for mining cryptocurrencies is one of the ways to increase electricity consumption in the country. Some projects are already in place. The facilities are operational. Foreign companies are interested in building and developing such facilities in the future.” In particular, Russian and Chinese investors were mentioned.

According to the minister, the power grid is ready for it. “If they contact us and specify locations and expected consumption, the power grid will be ready to respond promptly. [The national energy company] Belenergo has not received applications for connecting new installations to the power grid yet,” he added.

Viktor Karankevich stressed that very comfortable electricity tariffs for this kind of business are available in Belarus at present.