Bhutan, a tiny sovereign kingdom, sandwiched between two Asian giants-China and India, is quietly stacking up Bitcoin- the digital gold, all thanks to its rivers. Yes, you heard that right!
The unique topography of Bhutan allows the kingdom to place strategically its Bitcoin mining centers next to hydroelectric power plants that operate on its four major rivers- Amo Chu, Wang Chu, Punat Sang Chu & Mangde Chu. In less than five years, Bhutan has amassed over $1 Billion in Bitcoin, generating a range of 55-75 BTC per week from its mining operations.
Interestingly, all four major rivers of Bhutan merge into Brahmaputra river basin and enter India to form different rivers and its tributaries. But then what about India and why is she not utilizing its natural resources to mine Bitcoins?
India, the most populous nation in the world, is diverse, vivid and massive; not just by its population but also in terms of land area, topography and varied languages, culture as well as faith. From the arid plains of Rajasthan to the hilly terrain of Arunachal Pradesh, India encompasses 3.28 million square kilometers and is blessed with 10 perennial rivers including the holy Ganges and a flourishing ecosystem that has survived since ancient times.
Owing to its geographical location & perennially fierce rivers, India ranks 5th globally when it comes to installed hydropower generation. Just like its Himalayan neighbor Bhutan, it too has the potential to mine bitcoins and become a major player in this niche industry in the coming years.
But unlike it’s neighbor, India has a rather “hush-hush” approach towards cryptocurrencies in general and therefore niche sectors like bitcoin mining have remained largely neglected. While Bhutan possesses a substantial $1 Billion in bitcoin holdings, India’s cryptocurrency journey is hindered by high taxes and blanket bans.
In this article, we will dissect the Bitcoin mining operations of Bhutan, revisit its unique topography and understand how India can also utilize its rivers to mine the digital gold.
What is Bitcoin Mining and why it is a lucrative business?
Bitcoin mining is a process in blockchain networks that helps in the confirmation and finalization of transactions. The miners use a specialized, high-powered computer system to mine the coins. The main work of crypto miners is to secure the network, verify the transaction, & circulate new coins.
Being a niche sector, Bitcoin mining is quite a profitable business as the collective market cap of the top 5 private Bitcoin mining firms worldwide is a staggering $1377 billion. To name a few- MARA Holdings, Riot Blockchain & Core Scientific- are US-based crypto mining companies with annual turnovers of $338 billion, $376 billion, and $558 billion, respectively.
Why is Bitcoin Mining Expensive?
Bitcoin/Crypto mining farms are large industrial setups. They are usually located in remote areas where electricity setups are arranged with high-speed internet, efficient cooling systems, and ventilation. This is because bitcoin mining generates computing power equivalent to 3.7 million supercomputers.
According to experts, the mining facility should also provide protection from outdoor conditions and have proper security measures. It is for this reason, storage facilities and warehouses operate mining farms because of the above-mentioned requirements.
Some major Bitcoin Mining Firms Around The Globe
There are many other countries that are leading in the Bitcoin mining endeavor. U.S. is at the forefront, boasting a formidable infrastructure and readily available capital, making it an exceptionally appealing destination for institutional miners seeking profitable opportunities.
That’s why the top 4 miners in the top 5 spots are taken by companies based in the USA. Let’s have a look at the top five Bitcoin mining companies’ list.
MARA Holdings (Market Cap $410 Billion)
At first is MARA Holdings, a firm established in Florida, which is regarded as one of the largest bitcoin miners globally with a market cap of $410 billion. It is also the second largest corporate holder of Bitcoin.
Riot Blockchain (Market Cap $398 Billion)
Keeping close is Riot Blockchain, the largest Bitcoin mining plant in North America in terms of developed capacity. The total market cap of Riot Blockchain is $398 billion.
Core Scientific (Market Cap $239.53 Billion)
Then we have Core Scientific, which has facilities in 7 US states. Core Scientific’s market capitalization was $239.53 billion in February 2025. Due to this, Core Scientific is now one of the most valuable mining firms in the world.
Bitdeer (Market Cap $219.37 Billion)
The 4th spot is taken by Bitdeer Technology Group, a Singapore-based company. The market capitalization of Bitdeer Technologies Group was $219.37 billion in February 2025.
Clean Spark (Market Cap $217.41 Billion)
Another company worth mentioning is Clean Spark. It operates in Tennessee, Wyoming, Mississippi, and Georgia. The market capitalization of CleanSpark was $217.41 billion in February 2025.
How Geography Influences the Location Of Mining Setups?
Apart from robust infrastructure and capital, geography also plays a key role in the setup of mining facilities. Russia follows U.S. closely, thanks to its abundant energy sources, particularly in the region of Serbia, where the cold climate leads to reduced cooling costs.
There are some major crypto mining farms spread throughout the globe. Some of which are:
- Dalian, China is a port city in northern China that offers the cheapest power supply.
- Reykjavik, Iceland is one of the oldest mining farms is situated here owing to cold climates.
- Washington, USA is a place with favorable infrastructure and one of the cheapest power supplies.
- Linthal in Switzerland is a village where cool climate makes it favorable for bitcoin mining.
- Amsterdam in Netherlands is a city offers cheap power supply, and the cool climate is an added point.
Bhutan’s journey in Bitcoin Mining
Bhutan started its journey in bitcoin mining in 2019, when it was valued at $5000 and was fueled by the Covid-19 crisis. It has abundant rivers that are fed by glaciers. The country has 4 major rivers—Amo Chu, Wang Chu, Punat Sang Chu & Mangde Chu—and numerous other rivulets, all of which drain into the Brahmaputra River Basin.
Bhutan’s installed hydropower capacity stands at 1,615 megawatts as of 2016, out of an estimated hydropower potential of 30,000 megawatts, and Bhutan operates four major hydroelectric facilities: PunatSangchu, Kurichu, Mangdechu, and Tata Hydropower projects.
These provide significant hydropower to the “Land of the Thunder Dragon”, making it a suitable country for setting up Bitcoin mining farms. The four sites are situated in Dochula Pass, on the banks of the Punat Sangchu river. The other two are in Trongsa and Dagana on the Mangde Chu and the Kuri Chu rivers, respectively. The most prominent mining farm is perhaps on the failed education city project on the Raidek River.
Also Read: Crypto Investor Shares Rare Glimpse of Bitcoin Mining in Bhutan
Best Sites In India for setting up Bitcoin Farms
Based on the topography of India and the location of its 10 perennial rivers, we have come up with five best cities in India to set up Bitcoin mining centers.
Bilaspur, Himachal Pradesh
This place, located on the foothills of the Shivaliks and banks of the Sutlej River, has the ideal terrains and would have an unlimited power supply harnessed from the Bhakra-Nangal dam.
Korba, Chattisgarh
Korba, Chhattisgarh, is situated in the industrial area of Korba. The dense forest cover provides natural cover, while the Korba Super Thermal Plant and the Hasdeo River provide power.
Begusarai, Bihar
The financial and industrial capital of Bihar on the banks of the Ganges can be an ideal location for bitcoin mining. The energy needs can be fulfilled by the hydropower project on the river Ganga.
Dibang Valley, Arunachal Pradesh
Just like Bhutan, Dibang Valley has a lot of fierce rivers. The largest hydropower dam in India is also being constructed here, which will look after the power demands of the mining facility.
Bijapur, Karnataka
This historical district of Karnataka has the potential to become a bitcoin mining city. The hydropower dam on the Krishna and Doni rivers can provide sufficient power.
How India Can Benefit From Bitcoin Mining?
The profitability of bitcoin mining in India depends on several factors:
Electricity Costs
Crypto mining rigs consume a lot of power, and electricity prices in India can be high. This can significantly eat the profits.
Mining Difficulty
Bitcoin has a very high mining difficulty, making it challenging to compete with large-scale mining operations.
Hardware Costs
Specialized mining hardware (ASICs) is expensive, and there is a need for efficient cooling systems to manage the heat they generate.
However, using hydropower for energy needs and having clear research to mine bitcoin will be advantageous. Also, mining pools to combine resources and increase chances of earning rewards can help in maximizing profits. Another important thing to consider is tax implementation. Crypto mining profits are subject to taxation in India, so it is important to factor this into calculations.
Final Thoughts
Just like its neighbor kingdom Bhutan, India is blessed to have abundant rivers with the potential to harness hydropower. By utilizing this hydropower energy, India has the potential to become a major player in the Bitcoin mining community.
