Kingdom of Bhutan Holds 13,029 BTC from Bitcoin Mining Operations
The Himalayan kingdom of Bhutan owns more than 13,000 BTC, worth around $750 million, according to chain surveillance firm Arkham Intelligence.
- These holdings come from Bitcoin mining operations carried out by the Kingdom of Bhutan's investment arm, Druk Holdings.
"Bhutan is the 4th largest government with Bitcoin holdings on our platform, with over $750M in BTC. Unlike most governments, Bhutan’s BTC does not come from law enforcement asset seizures, but from Bitcoin mining operations, which have ramped up dramatically since early 2023," said the surveillance firm.
- In May 2023, Druk Holding & Investments partnered with Bitdeer to develop a carbon-free Bitcoin mining operations in the country. In April, the parties revealed plans to expand their mining capacity to 600 megawatts. Bhutan’s abundant hydropower resources make it perfectly suited for Bitcoin mining operations.
- You can track Bhutan's bitcoin holdings here.
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