Bhutan has emerged as a notable player in the Bitcoin world by accumulating around 12,000 BTC since 2020, which serves as a vital element of the country's economy.
Bitcoin Mining in Bhutan
Bhutan harnesses its extensive hydropower resources to mine Bitcoin, making the process both cost-effective and environmentally friendly, distinguishing it from many other countries where mining has a negative impact.
Filling the Economic Gap Post-Pandemic
After a significant drop in tourism during the COVID-19 pandemic, the government began using Bitcoin to fund public services. In 2023, around $100 million worth of Bitcoin was sold, with proceeds used to double civil servants' salaries.
Long-Term Bitcoin Holding Strategy
Bhutan's government has shifted its strategy from selling Bitcoin to holding it as a long-term asset. With Druk Holding & Investments, the country is expanding its mining operations and collaborating with international firms to increase production.
Bhutan's model illustrates how small nations can leverage digital assets for economic development, combining sustainability and strategic foresight in the face of global challenges.
