Summary
TLDR: Bhutan plans to increase Bitcoin mining capacity from 100 to 600 megawatts ahead of the halving event in April. The country’s sovereign wealth fund is partnering with Bitdeer to ramp up operations, citing the event as a motivation. Bhutan sees mining as a commercial opportunity and a tool for crisis mitigation, with a focus on eco-friendly practices and boosting rural economies.
Key Points
1. Bhutan plans to expand its Bitcoin mining operations fivefold ahead of the impending halving event in April, increasing capacity from 100 to 600 megawatts.
2. The country’s sovereign wealth fund, Druk Holding & Investments, is partnering with Bitcoin mining firm Bitdeer to ramp up capacity and has been purchasing BTC since prices were around $5,000.
3. Bhutan views Bitcoin mining as a commercial opportunity, crisis mitigation tool, and a way to boost rural economies and jobs, leveraging its renewable hydropower reserves for eco-friendly mining.