Bhutan Vaults To Top 4 In Global Bitcoin Reserves With $750 Million Haul
Bhutan has become a significant player in bitcoin mining, with holdings estimated at $780 million, making it the fourth-largest governmental holder of bitcoin globally. The country's wealth in cryptocurrencies stems from its own mining activities, leveraging abundant hydropower resources. Bhutan has been mining bitcoins since 2017 and has recently expanded operations under Druk Holding & Investments, building multiple mining facilities, including the largest on the former Education City project site. A partnership with Bitdeer Technologies aims to develop a carbon-neutral mining operation, increasing capacity from 100 to 600 megawatts by 2026. Bitcoin now accounts for over one-third of Bhutan's GDP, impacting traditional revenue sources like hydropower exports to India. The Royal Monetary Authority of Bhutan has implemented regulatory measures, including KYC regulations, to ensure a secure investment environment. Bhutan's proactive approach may serve as a model for other nations interested in cryptocurrency.
