Bhutan's Secret Bitcoin Goldmine: A $1B Hydro-Powered Crypto Empire
1min read Bhutan, a small Himalayan kingdom known for its focus on national happiness, has quietly amassed a significant Bitcoin portfolio worth over $1 billion through state-sponsored mining operations powered by renewable energy. The country's national investment arm, Druk Holding and Investments (DHI), has been mining Bitcoin since 2019 using the nation's abundant hydroelectric resources.
The mining operation represents a careful blend of traditional values and modern technology. Bhutan's approach differs from other mining operations worldwide by relying entirely on clean hydroelectric power, avoiding the environmental concerns that often surround cryptocurrency mining. This strategy allows Bhutan to create new tech jobs while maintaining its cultural values and environmental balance.
Recent reports revealed that Bhutan transferred 367.26 BTC to Binance in November, showing that the government actively manages its cryptocurrency portfolio. This transfer suggests a strategic approach to digital asset management rather than simple accumulation through mining.
The country's involvement in cryptocurrency extends beyond mining. In January 2024, plans were announced for the Gelephu Mindfulness City (GMC), a $100 billion development project that aims to integrate digital assets like Bitcoin, Ethereum, and BNB into the nation's strategic reserves. GMC represents an ambitious attempt to modernize Bhutan's economy while maintaining its cultural identity, focusing on what developers call "mindful capitalism."
The mining operations are creating new job opportunities for local residents, particularly in technology and digital finance. As Bitcoin mining activities expand, the demand for specialists in blockchain technology and crypto-based financial systems continues to grow. Bhutan's cool climate and mountainous terrain provide natural advantages for digital asset mining, further enhancing the operation's efficiency.
The government's approach to cryptocurrency appears carefully planned. Rather than making public announcements, Bhutan has quietly built its position in the digital asset space over several years. This strategy allows the country to capitalize on the growing cryptocurrency market while minimizing potential risks and maintaining its focus on national happiness.
