Bhutan Embraces Green Cryptocurrency Mining to Boost Economy
Bhutan is harnessing its abundant hydropower resources to mine green cryptocurrencies, aiming to stimulate economic growth, provide employment, and curb youth emigration. The country's sovereign wealth fund, Druk Holding and Investments Ltd., has been investing in digital assets since 2019, using profits to pay government salaries. Officials plan to expand hydropower capacity to attract multinational companies seeking environmentally compliant digital assets.
The nation's Bitcoin mining operations are entirely powered by hydropower, aligning with its commitment to environmental sustainability. This approach not only ensures carbon neutrality but also positions Bhutan as a leader in eco-friendly cryptocurrency mining. By utilizing renewable energy, Bhutan is setting a precedent for how cryptocurrency mining can be both profitable and environmentally responsible.
To further bolster its position in the global Bitcoin mining landscape, Bhutan has partnered with Bitdeer Technologies Group to expand its mining infrastructure. The collaboration includes the construction of a 100-megawatt crypto-mining data center in Gedu, with plans to add 500 megawatts by mid-2025. This phased development aims to attract foreign direct investment and strengthen Bhutan's economy.
