Bhutan has utilized surplus hydropower since 2019 for Bitcoin mining through its sovereign investment arm, Druk Holding & Investments, contributing to the country's economic growth.
Druk Holding & Investments Initiative
The Bitcoin mining initiative is led by Druk Holding & Investments, Bhutan's sovereign investment body. CEO Ujjwal Deep Dahal emphasizes the use of renewable energy for digital asset mining. Since its inception, Bhutan has mined over 12,000 BTC, with profits used to support public wage programs and national development projects.
Economic Impact and Prospects
Bhutan's strategic shift towards Bitcoin mining is seen as a critical component of economic growth. The approach allows the country to strengthen its position on the global stage while supporting national initiatives through mining revenue. There are plans to expand hydropower capacity for increased production, potentially leading to greater financial gains.
Bhutan's Technological Model
Bhutan's model combines technology and renewable resources, distinguishing the country within the cryptocurrency landscape. As the mining operations grow, Bhutan may face the need to comply with global standards, positively influencing its technological development.
Bhutan’s Bitcoin mining initiatives, backed by hydropower resources, represent a significant step towards economic sustainability and may serve as a model for other countries.
