Alexander Lukashenko said his country has enough energy resources to power cryptocurrency mining, an activity that China banned earlier this year.
Earnings reveal that non-Chinese mining firms produced more bitcoin in the second quarter amid China's crackdown on the practice.
Mining stocks tend to move in the same direction as bitcoin, though many have outperformed the cryptocurrnency in 2021.
The ban on mining operations in China has actually helped bitcoin move towards its goal of becoming a more decentralized network.
"When you look at FTX US, there's an enormous amount of potential growth," Bankman-Fried told CoinDesk TV.
Core Scientific is one of North America's largest crypto miners and mined 1,683 bitcoins total.
Police seized the rigs from miners who allegedly stole $2 million worth of electricity.
Other major cryptocurrencies are also trading lower on Friday. The market has struggled to rebound since a broader crash in May.
"Bitcoin mining will probably become part of utility ecosystems, and will proliferate renewables faster than would otherwise be the case," Wood said.
New data from the Cambridge Centre for Alternative Finance puts empirical evidence behind the ongoing migration of the bitcoin hashrate out of China.
The recent rise in bitcoin mining stocks may well be a sign that big institutions are looking for a way back into the crypto arena, Fundstrat said.
Chinese authorities shut down a Beijing software company over suspected involvement with crypto trading as its crackdown continues.
Local residents complain that Greenidge, a gas-fired power plant by Seneca Lake, is warming the water and polluting the air, NBC News reported.
The level of difficulty to mine bitcoin plunged by 28% on Saturday, according to data from BTC.com, for the network's largest drop in its history.
Bitcoin miners saw revenue slip by 42%, while ethereum miners saw theirs tumble by 53%, according to data from The Block.
On May 14, the hash rate fell from 180 EH/s to its current value of 90 EH/s, according to The Block.
"We expect bitcoin to hold the $30,000 to $42,000 trading range for now," Pankaj Balani of Delta Exchange said.