The launch of Belarus’s first nuclear power plant has enabled the development of incentivised electricity tariffs, fostering the growth of cryptocurrency mining. This was stated by the Deputy Minister of Energy of Belarus, Denis Moroz, as reported by Rossiyskaya Gazeta.
He explained that companies engaged in cryptocurrency mining and large data centres receive discounts based on their energy consumption.
“The tariffs are differentiated: the more a company consumes, the cheaper the electricity becomes for that company. We are seeing a certain interest from various companies in these tariffs. Today, there are mining companies in the country that are involved in cryptocurrency production,” the deputy minister stated.
The Belarusian nuclear power plant was brought into commercial operation between 2021 and 2023.
Should there be a dynamically growing demand for electricity in 2025, Belarusian authorities will assess the need for constructing another facility.
Back in 2017, Belarus signed a decree legalising mining activities.
In 2019, President Alexander Lukashenko proposed building a large data centre for mining near the Belarusian nuclear power plant.
In February 2021, the Belarusian Ministry of Energy announced it was studying the prospects of cryptocurrency mining.