Bhutan’s recent emergence as a significant player in the Bitcoin market has captured widespread attention, particularly with the revelation that the nation holds over $750 million in Bitcoin. This comes as a result of its investment arm, Druk Holdings, spearheading Bitcoin mining operations that have been quietly running since early 2023.
The strategic use of the country’s abundant hydropower has been key to Bhutan’s Bitcoin mining, allowing for a more sustainable energy footprint. Hydropower not only supplies a renewable energy source but also positions Bhutan to capitalize on the growing digital economy with minimal environmental impact—a major concern in the global cryptocurrency sector.
This bold initiative has propelled Bhutan into the ranks of the world’s top government holders of Bitcoin, following the U.S., China, and the U.K. One of Bhutan’s major mining hubs is an intriguing site—a former Education City project that has been transformed into a large-scale mining facility. This repurposing of infrastructure reflects Bhutan’s forward-thinking approach, marrying technological innovation with the country’s energy resources.
Bhutan’s foray into Bitcoin mining highlights a broader strategy to diversify its economy and secure a foothold in the digital asset space. The country’s discreet accumulation of Bitcoin, now public thanks to Arkham Intelligence’s tracking platform, signals its intention to leverage blockchain technology and cryptocurrencies as part of its long-term economic vision