Key Takeaways:
- Bhutan holds 13,029 BTC, valued at $758 million, making it a significant player in the crypto space.
- The country’s Bitcoin mining is powered by abundant hydroelectric resources and began in 2019.
- Bhutan’s Bitcoin holdings represent about 25% of its projected GDP of $3 billion by 2024.
Bhutan has become a key player in the cryptocurrency space, holding 13,029 BTC, valued at around $758 million, through its investment arm, Druk Holdings (DHI).
This surpasses El Salvador’s 5,875 BTC, worth $331 million.
BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAM
— Arkham (@ArkhamIntel) September 16, 2024
Bhutan’s Bitcoin holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by the Kingdom of Bhutan’s investment arm, Druk Holdings.
Arkham is the first to publicly identify these… pic.twitter.com/a8ScUNJJ9F
Bhutan’s Bitcoin comes from mining operations powered by the country’s abundant hydroelectric resources, with a mining facility linked to the former Education City site.
Alongside Bitcoin, DHI holds Ethereum (ETH), BNB, and Polygon (MATIC) tokens.
Bhutan’s Bitcoin stash represents approximately 25% of its GDP, projected at $3 billion by 2024.
Bhutan began mining Bitcoin in 2019, when the price was $5,000, and recently partnered with Bitdeer to expand its mining capacity by 500 megawatts by 2025.
Unlike El Salvador, which adopted Bitcoin as legal tender in 2021, Bhutan’s mining relies on hydroelectric power rather than El Salvador’s geothermal energy from volcanoes.
Both countries share a commitment to sustainable Bitcoin mining, though Bhutan’s holdings are significantly larger, despite its smaller population.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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