Bhutan, a small Buddhist kingdom nestled in the Himalayas, has emerged as a major player in the cryptocurrency world. According to Arkham Intelligence, Bhutan holds 13,011 Bitcoin (BTC), worth around $780 million. This places the country as the fourth-largest global government holder of Bitcoin.
What sets Bhutan apart is that its Bitcoin was not acquired through seizures or legal cases, as seen in countries like the U.S. and China. Instead, Bhutan has invested heavily in Bitcoin mining, with operations run by its investment arm, Druk Holdings.
These mining activities have multiplied since early 2023 and are powered by the country’s rich hydropower resources, making it one of the most environmentally friendly crypto-mining operations.
In May 2023, Bhutan teamed up with Bitdeer to raise $500 million & create a fully carbon-neutral Bitcoin mining operation. They aim to increase their mining capacity from 100 to 600 megawatts, solidifying Bhutan’s reputation as a leader in green Bitcoin mining.
Bhutan’s Bitcoin journey reflects a broader trend of nations increasingly holding and mining cryptocurrency as part of their financial strategies. While the U.S. leads the pack with over $13 billion in seized Bitcoin, Bhutan’s eco-friendly approach to mining makes it a standout player in the crypto space.
With the global shift towards digital assets, Bhutan’s involvement in Bitcoin mining shows how even smaller nations are finding ways to significantly impact the cryptocurrency world.
