"Cryptocurrency demand will be met by Belenergo"
Belarus is gearing up to accommodate increased electricity demand from cryptocurrency mining, with reports suggesting that as much as 1,100 MW of power could be allocated for crypto mining operations [3]. This significant commitment indicates a readiness to support large-scale mining activities, which are known for their high energy consumption.
The country's support for cryptocurrency-related activities is evident in its legal framework. Crypto mining and trading have been legalized and incentivized under Belarus’s digital economy development policies, specifically Decree No. 8 "On the Development of the Digital Economy" [1]. This regulatory environment, within the Belarus Hi-Tech Park (HTP), encourages mining and other crypto operations, implying preparations in infrastructure, including power supply.
While explicit details on the modernization or expansion of the power grid system are limited, the mention of exploring large power use (over 1 GW) and a supportive regulatory environment strongly indicate that Belarus is positioning its power system and industrial infrastructure to meet increased crypto mining demand.
Sergei Shebeko, Deputy General Director of "Belenergo", has stated that Belarus has sufficient capacity to meet any potential increased demand for electricity [4]. His positive stance towards cryptocurrency mining in Belarus is further evidenced by his statement that "Belenergo" is open to supporting cryptocurrency miners in the country [4].
The industrial sector is the largest consumer of electricity in Belarus, accounting for 54% of the total consumption [2]. Despite this, Shebeko has expressed confidence that the Belarusian power system is prepared to accommodate increased demand from cryptocurrency miners. The share of the population in the total electricity consumption in Belarus is 24% [2].
The annual electricity consumption in Belarus is approximately 28 billion kWh [2]. With the potential influx of energy-intensive mining operations, Belarus could potentially benefit from the economic activity associated with cryptocurrency mining.
In summary, Belarus is exploring the use of substantial power capacity for cryptocurrency mining, with a reported 1,100 MW being considered [3]. The legalization and incentivization of crypto-related activities under Belarus's digital economy development policies [1] suggest state-level planning to supply adequate power to support growing crypto mining operations. While specific details on grid upgrades are limited, the level of power mentioned and legal facilitation demonstrate significant preparation for accommodating increased crypto mining power needs.
