Bhutan, known for its happiness principles, is now exploring the use of green cryptocurrency through clean hydropower. The country sees blockchain as a path to improving its economy and creating new jobs.
How Crypto Profits Are Funding Salaries
Green cryptocurrencies are digital currencies mined using clean energy resources like wind, hydro, or solar power. Bhutan has quietly made millions by investing in top cryptocurrencies, which has been used to pay government salaries for two years, according to senior officials.
Bhutan's Hydropower and Digital Economy
Bhutan utilizes its clean hydropower to run supercomputers that mine digital assets for the blockchain. Officials are also considering if large companies could buy Bhutan's 'green' coins to meet their ESG targets. CEO Ujjwal Deep Dahal emphasized that hydropower energy adds further value to Bitcoin, opening up foreign currency liquidity.
Support for Bitcoin Mining Strategy
Bhutan's Prime Minister Tshering Tobgay has praised the state-backed Bitcoin mining strategy, emphasizing that governments should recognize its potential for economic growth. As of April 9, Bhutan's Bitcoin holdings were valued at over $600 million, comprising an impressive 30% of the country's GDP.
Bhutan continues to develop its green cryptocurrency strategy, aiming to increase its hydropower capacity to support economic growth and create new jobs.
