Bhutan silently mines $1.3 billion in Bitcoin
Bhutan has emerged as the third-largest government holder of Bitcoin, quietly accumulating 12,062 BTC since 2020, now valued at just under $1.3 billion, as per data from Arkham Intel on June 27. This trove amounts to nearly 40% of the Himalayan kingdom’s gross domestic product (GDP), making it one of the most crypto-exposed nations on earth. Bhutan’s crypto holdings. Source: Arkham Intel Bhutan’s Bitcoin holdings, long kept under wraps, are managed by the state-owned Druk Holding and Investments (DHI), the government’s commercial arm. “For Bhutan, it was quite obvious in a lot of ways,” said Ujjwal Deep Dahal, CEO of DHI, in a rare public comment. Dahal noted that the nation’s abundant hydropower resources provided a clear path to low-cost, sustainable Bitcoin mining, a strategic advantage that few other countries can replicate. Bhutan starts mining Bitcoin in 2020 Bhutan began mining Bitcoin as early as 2020, leveraging its green energy s...
