Bhutan to Ramp Up Bitcoin Mining Capacity to 600MW as Halving Looms
Bhutan’s investment arm Druk Holding & Investments and Bitdeer Technologies Group are planning to ramp up their Bitcoin mining operation to help offset the revenue impact of an upcoming Bitcoin halving.
- "The planned upgrades will increase the Himalayan kingdom’s mining capacity by 500 megawatts by the first half of 2025, Matt Linghui Kong, chief business officer at Bitdeer said in an interview. That would bring Bhutan’s total capacity to 600 megawatts," reports Bloomberg.
- The capital for this operation will be obtained from a $500 million fund initiated by the duo in May last year. At that time, they revealed intentions to utilize Bhutan's plentiful hydroelectric power for Bitcoin mining. Kong anticipates that the fund will be fully raised by July.
The nation’s 500-megawatt boost “will be built on Bitdeer’s latest hardware to lower costs and improve computing power,” said Ujjwal Deep Dahal, CEO at DHI.
- Both DHI and Bitdeer remain confident that they can keep their operations efficient even if Bitcoin's price falls following Bitcoin halving. According to Kong, Bitdeer boasts one of the industry's lowest expenses per Bitcoin mined, costing only $20,000 per coin.
