Bhutan Bitcoin Holding Disclosed:13,000 Bitcoins Stash
Bhutan, a small Buddhist kingdom nestled in the Himalayas, has made a significant entrance into the cryptocurrency world. With a combination of its rich natural resources and strategic partnerships, Bhutan has positioned itself as a major player in Bitcoin mining.
Recent reports have shed light on Bhutan Bitcoin holdings and its eco-friendly approach to cryptocurrency mining. This development places the country among the top government holders of Bitcoin, highlighting its bold foray into the digital economy.
Bhutan 4th Largest Bitcoin Holder with $780 Million Worth of BTC
According to a report by Arkham Intelligence, Bhutan holds 13,011 BTC, valued at approximately $780 million. This makes the Himalayan kingdom the fourth largest government holder of Bitcoin, surpassing El Salvador and trailing behind the United States, China, and the United Kingdom.
Bhutan’s Bitcoin holdings are unique compared to other governments, as they are not derived from asset seizures. Instead, the country has ramped up Bitcoin mining efforts, leveraging its abundant hydropower resources to power eco-friendly operations.
Country’s state-owned investment arm, Druk Holding & Investments, has been spearheading the nation’s Bitcoin mining operations. Over the years, the country has developed multiple mining facilities, with its largest site located on the grounds of the defunct Education City project.
The country’s carbon-free mining is further supported by a partnership with Bitdeer Technologies, a cloud mining services company. Since early 2023, Bhutan and Bitdeer have been scaling up the country’s mining capabilities, aiming to increase capacity to 500 megawatts by 2025.
Conclusion
Bhutan’s strategic push into Bitcoin mining, powered by its hydropower resources, has made it one of the world’s most significant government holders of cryptocurrency. As the fourth-largest Bitcoin-holding government, the country’s efforts are a testament to the growing importance of eco-friendly mining and the opportunities that digital assets present for smaller nations like Bhutan.
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Disclaimer
This article is for informational purposes only and does not constitute financial advice. Please conduct your own research before making any investment decisions.
