Bitdeer and Bhutan’s DHI to Raise $500M for Digital Mining

Bitdeer Chairman Jihan Wu is thrilled about the project and believes that it will establish an unchangeable foundation for a universal store of value.
Bitdeer and Bhutan’s DHI to Raise $500M for Digital Mining

The Bitdeer Technologies Group, a Nasdaq-listed mining company, has teamed up with Bhutan’s sovereign investment arm, Druk Holding and Investments (DHI), to create eco-friendly and carbon-free mining operations in the Kingdom of Bhutan.

The two companies are set to launch a closed-end fund with a staggering $500 million value, with the aim of attracting investments from around the world. They plan to start their fundraising efforts at the end of May, and we can’t wait to see the results!

What makes this partnership so exciting is that it will utilize Bhutan’s zero-emission energy to support blockchain technologies. Bitdeer Chairman Jihan Wu is ecstatic about the initiative and believes it will lay a solid basis for a global store of value. He said that the partnership will act as a springboard for the growth of global stakeholder networks that will help Bhutan’s IT sector.

DHI CEO Ujjwal Deep Dahal shares Wu’s enthusiasm and says the collaboration with Bitdeer is a step towards a more sustainable local economy. DHI’s mission is to improve the lives of Bhutanese people, and this collaboration will help them do that.

But wait, there’s more! This collaboration is projected to produce jobs in a variety of disciplines, including engineering, project management, and supervisory and supportive positions. It will also encourage economic growth and create foreign currency earnings for the local community and the country.

Also Read: Bhutan’s Secret Ousted: Mining Bitcoin With Hydropower Since 2017

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