According to Bloomberg, Bhutan's investment agency and Bitdeer plan to upgrade Bhutan's mining capacity by 500 megawatts, which is expected to be completed in the first half of 2025. The funds will be drawn from the $500 million fund that the two parties began to raise in May last year, when they unveiled plans to use Bhutan's abundant hydropower resources for Bitcoin mining. Bitdeer's costs are the lowest in the industry, with a mining cost of $20,000 per Bitcoin. Although the difficulty of Bitcoin mining is increasing, Bitdeer and DHI said they are confident that they can maintain operational efficiency even if the price of Bitcoin drops after the halving. Bhutan has been looking to diversify its hydropower-dependent economy, and DHI is experimenting with asset tokenization and is building a metaverse project called "Bhutan Universe."