Highlights:
- Bhutan holds 13,011 Bitcoin, making it the fourth-largest government Bitcoin holder globally.
- Bhutan’s eco-friendly Bitcoin mining is powered by hydropower and a partnership with Bitdeer.
- Bhutan’s focus on carbon-neutral mining reflects a global trend of sustainable cryptocurrency practices.
Bhutan, a small Buddhist kingdom in the Himalayas, has emerged as the Fourth-Largest Government Bitcoin Holder. According to recent reports from Arkham Intelligence, the Kingdom of Bhutan currently holds 13,011 Bitcoin (BTC), valued at approximately $780 million. This development places Bhutan behind the United States, China, and the United Kingdom.
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BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAM
Bhutan’s Bitcoin holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by the Kingdom of Bhutan’s investment arm, Druk Holdings.
Arkham is the first to publicly identify these… pic.twitter.com/a8ScUNJJ9F
— Arkham (@ArkhamIntel) September 16, 2024
Bhutan Expands Bitcoin Mining and Boosts National Holdings
Bhutan’s involvement in the cryptocurrency space has grown significantly over the past few years. Arkham Intelligence identified the kingdom’s Bitcoin addresses for the first time, highlighting its expanding role in the global cryptocurrency landscape. This revelation also signals Bhutan’s increasing focus on Bitcoin mining and accumulation.
Through its state-owned investment arm, Druk Holdings, Bhutan has expanded its Bitcoin mining operations. Since early 2023, Bhutan has used its natural resources, especially abundant hydropower, to create eco-friendly Bitcoin mining facilities. This has allowed the country to build a large Bitcoin reserve, moving ahead of El Salvador to become the fourth-largest government holder of Bitcoin.
Bhutan Advances Sustainable Bitcoin Mining Efforts
Bhutan’s mining operations are particularly notable for their focus on sustainability. The country has utilized its rich hydropower resources to power its Bitcoin mining activities, positioning itself as a leader in green mining. In May 2023, Bhutan partnered with Bitdeer, a major mining company, to develop the country’s first fully carbon-neutral Bitcoin mining operation. This collaboration has allowed Bhutan to scale its mining capacity from 100 to 600 megawatts, further strengthening its presence in the global cryptocurrency market.
One of the key projects in Bhutan’s mining expansion involved transforming an abandoned Education City site into a large-scale crypto-mining complex. This initiative showcases Bhutan’s commitment to maximizing available resources and highlights its strategic focus on sustainable development.
By utilizing renewable energy, Bhutan has minimized the environmental impact of its mining operations while positioning itself as a destination for clean cryptocurrency mining. In addition to its focus on eco-friendly mining, Bhutan’s accumulation of Bitcoin signals a rising presence of cryptocurrency in the global financial system. Governments worldwide, including the U.S., China, and the U.K., increasingly hold Bitcoin in their financial portfolios.
Bhutan’s Cryptocurrency Future
Bhutan’s role in Bitcoin mining shows how the global cryptocurrency landscape changes. As digital assets become more important, smaller nations like Bhutan are finding ways to make a big impact. The kingdom’s strategic focus on clean energy and sustainable mining sets it apart from other countries engaged in Bitcoin mining. This allows it to carve out a unique role in the global market.
Bhutan’s growing involvement in Bitcoin mining, particularly through its partnership with Bitdeer, signals its commitment to expanding its presence in the cryptocurrency world. Bhutan emphasizes eco-friendly mining in its cryptocurrency efforts, mirroring the global trend of nations integrating digital currencies. Bhutan is emerging as a leader in clean crypto mining. It shows how smaller nations can make a big impact.
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