Belarusian President Considering Crypto Mining

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Alexander Lukashenko, President of Belarus, has said he wants the government to start mining cryptocurrency using backup power infrastructure, Cointelegraph reported.

Lukashenko, speaking at the opening of the Petrikovsky mining and processing plant on Friday, August 27, said workers should continue mining crypto rather than leaving the country for lower paying agricultural positions abroad, according to the report.

He said Belarus has sufficient electricity resources to continue mining cryptocurrency, with a number of abandoned sites that could be potential income generators, according to the report.

We have to understand that they are not waiting for us anywhere, he said, according to the report. … Build something from electricity. After all, start mining cryptocurrency or whatever its name is. There is enough electricity in the country.

The Petrikovsky plant is the largest investment project of state-owned Belaruskali, which is one of the world’s largest producers of potassium fertilizers, according to the report. The Belarusian government is also looking to get more into crypto mining. Earlier this year, he looked into the issue and analyzed the risks and benefits.

In other news, between August 26-28, Market America Worldwide and SHOP.COM’s annual international convention was held online, and it was revealed that SHOP.COM would start accepting crypto payments. currency, according to a press release.

Today, I am announcing that SHOP.COM will offer bitcoin, ethereum and several other cryptocurrencies through BitPay, Market America Worldwide President and COO Marc Ashley said in the statement. We were going to offer this on SHOP.COM sites around the world in all of our market countries. We opted for BitPay because they are the industry leader. They are the largest in the world in bitcoin and crypto payment services.

BitPay Chief Commercial Officer Sonny Singh said in the statement that he enjoys SHOP.COM’s international presence.

The fact that you only make 40% of your volume in America means it’s a truly global brand, he said, according to the release. In countries like Taiwan, Thailand, Argentina, Brazil and Indonesia, it is very difficult to make payments. Credit cards are not everywhere, and in these countries BitPay and crypto are the cheapest and fastest payment option for accepting bitcoin and for receiving crypto payment options as well.

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NEW PYMNTS DATA: 58% OF MULTINATIONAL COMPANIES USE CRYPTO-CURRENCY

By the way: Despite price volatility and regulatory uncertainty, a new study from PYMNTS shows that 58% of multinational companies are already using at least one form of cryptocurrency, especially when transferring funds across borders. The new Cryptocurrency, Blockchain and Global Business survey, a PYMNTS and Circle collaboration, polling 500 executives examines the potential and pitfalls that crypto faces as it becomes part of the mainstream financial sector.

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