The Mogilev region of Belarus has begun preparing sites for the construction of cryptocurrency mining farms, an initiative backed by President Alexander Lukashenko, according to Anatoly Isachenko, chairman of the regional executive committee.

He stated that the region has suitable land plots with sufficient energy capacity. According to Isachenko, preparations are underway to organize tenders and attract investors.

Last year, a project to build the first large-scale mining farm with Chinese investors was launched in the Krichevsky district. The investment for the construction is set at 190 million Belarusian rubles, with the first phase expected to be completed in 2025.

Earlier, the Mogilev regional executive committee discussed with the government plans to create new facilities based on the existing energy infrastructure, including the use of transformer substation capacities.

In March, Lukashenko suggested that Minister of Energy Alexey Kushnarenko focus on developing cryptocurrency mining in the country.