Laos prepares to legalize Bitcoin mining and trading.

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Ngày cập nhật gần nhất: 15/4/2026

On September 16, 2021, Nasdaq [1] reported from The Laotian Times [2] (announcement from the Prime Minister's office [3]) that 6 companies in Laos are authorized to mine and trade Bitcoin, Ethereum, and Litecoin. These six companies include: Wap Data Technology Laos, Phongsubthavy Road & Bridge Construction Co., Sisaket Construction Company Limited, Boupha Road-Bridge Design Survey Co., Ltd., Joint Development Bank, and Phousy Group.

According to Nasdaq, this move signals a shift in Laos' cryptocurrency policy, as just last month the Lao central bank still cautioned that cryptocurrencies were not yet legalized [4]. Relevant authorities are currently studying and drafting laws for the use of Bitcoin and other cryptocurrencies.

Laos currently has a hydroelectric capacity of approximately 26.5 Gigawatts, with only one-third being used domestically and the remaining two-thirds exported (source: [5]). According to Nasdaq, mining alternative cryptocurrencies like BTC, ETH, LTC, which operate on different consensus mechanisms, is deemed ideal for profitability and sustainability. Laos follows Belarus, where the former president proposed utilizing available infrastructure and energy resources for Bitcoin mining, leveraging China's crackdown on cryptocurrency mining ([6]).

Why are countries like Laos and Belarus venturing into mining cryptocurrencies such as BTC, ETH, LTC? Two reasons come to mind. Firstly, mining these cryptocurrencies incurs significant electricity costs, and regions with abundant and inexpensive electricity are more profitable for mining. Laos harnesses hydroelectric power, while Belarus relies on nuclear energy, making them prime locations for installing mining rigs. Secondly, major banks are heavily investing in cryptocurrencies, including Standard Chartered ($380 million USD), Morgan Stanley ($234 million USD), Citibank ($270 million USD), JP Morgan ($206 million USD), Goldman Sachs ($204 million USD). Hence, countries like Laos and Belarus mine cryptocurrencies to later sell them to these investment banks through brokers.

Mining these cryptocurrencies is akin to extracting and selling resources. Laos and Belarus possess surplus electricity to engage in this activity, simply mining and selling to meet demand. As Forbes estimated in 2020, the cost to mine 1 BTC ranges from $12,000 to $15,000 USD, subject to changes in hashrate. At current BTC prices, mining and selling cryptocurrencies in Laos and Belarus is lucrative. Unlike Laos, Vietnam faces challenges due to insufficient domestic electricity demand (source: [8]).

Many still criticize cryptocurrencies as scams or fraudulent schemes. In 2017, Jamie Dimon, CEO of JP Morgan, famously threatened to fire employees trading Bitcoin, stating, 'I'd fire them in a second. For two reasons: It's against our rules, and they're stupid. And both are dangerous.' However, JP Morgan now assists wealthy clients in accessing cryptocurrency investment funds. Fidelity Digital Assets is lobbying the U.S. Securities and Exchange Commission (SEC) to approve a Bitcoin Exchange-Traded Fund (ETF), citing its approval in Canada, Germany, Switzerland, and Sweden. SEC Chairman Gary Gensler seems receptive to the issue (source: [11]).

References: [1], [2], [3], [4], [5], [6], [7], [8], [9], [10], [11]

Profile Picture: [1]

Frequently Asked Questions

What are the six companies authorized to mine cryptocurrencies in Laos?

The six companies authorized to mine and trade cryptocurrencies in Laos are Wap Data Technology Laos, Phongsubthavy Road & Bridge Construction Co., Sisaket Construction Company Limited, Boupha Road-Bridge Design Survey Co., Ltd., Joint Development Bank, and Phousy Group. This authorization marks a significant shift in Laos' cryptocurrency policy.

Why is Laos considered an ideal location for cryptocurrency mining?

Laos is considered ideal for cryptocurrency mining due to its abundant hydroelectric power. The country's hydroelectric capacity is approximately 26.5 Gigawatts, allowing for profitable mining operations with lower electricity costs, making it an attractive destination for miners.

How does Laos' electricity capacity influence its cryptocurrency mining industry?

Laos' electricity capacity significantly influences its cryptocurrency mining industry by providing a low-cost energy source for mining operations. With two-thirds of its hydroelectric power exported and only one-third used domestically, Laos can effectively harness this surplus electricity for profitable mining.

What are the expected benefits of cryptocurrency mining for Laos?

The expected benefits of cryptocurrency mining for Laos include increased revenue from selling mined cryptocurrencies to major banks and investment firms. Additionally, this venture can create jobs and boost the local economy by attracting investment in the energy sector.

Is cryptocurrency mining considered a legitimate investment opportunity in Laos?

Yes, cryptocurrency mining is increasingly seen as a legitimate investment opportunity in Laos, especially given the government's support and the availability of low-cost electricity. This trend reflects a broader acceptance of cryptocurrencies as valuable resources.

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