Bhutan

Bhutan, a small Himalayan kingdom renowned for its commitment to Gross National Happiness, has quietly emerged as a significant player in the Bitcoin landscape. Leveraging its abundant hydroelectric resources, Bhutan began mining Bitcoin in 2019, viewing it as a strategic investment to diversify its economy and generate additional revenue streams. This initiative is spearheaded by Druk Holding and Investments (DHI), the country's state-owned investment arm, which has been instrumental in integrating digital assets into Bhutan's economic framework.

Unlike many nations that acquire Bitcoin through purchases or asset seizures, Bhutan's approach centers on sustainable mining practices powered by renewable energy. This method not only aligns with the country's environmental values but also positions Bhutan as a leader in green Bitcoin mining. The revenue generated from these operations has been utilized for various national expenditures, including funding government salaries, thereby contributing to the nation's economic stability.

Recent Developments

In April 2024, Bhutan partnered with Bitdeer, a leading technology company, to expand its mining capacity to 600 megawatts by 2025. This collaboration aims to enhance the country's mining operations while maintaining environmental sustainability. (cointelegraph.com)

Additionally, Bhutan has been exploring the integration of digital assets into its economy to stimulate growth and create employment opportunities. The government has utilized profits from past Bitcoin investments to fund various national initiatives, reflecting a strategic approach to leveraging digital assets for economic development. (reuters.com)

These developments underscore Bhutan's proactive stance in adopting Bitcoin as a means to diversify its economy and harness renewable energy resources, positioning the nation as a notable participant in the global Bitcoin ecosystem.