TLDR
Bhutan has quietly accumulated over $1 billion worth of Bitcoin through hydro-powered mining operations managed by their national investment company since 2019
The country recently transferred 367.26 BTC to Binance, showing active management of their crypto portfolio
Gelephu Mindfulness City, a $100 billion development project, plans to integrate Bitcoin and other cryptocurrencies as strategic reserves
The mining operations utilize renewable hydroelectric power, avoiding the environmental concerns often associated with crypto mining
The initiative aims to create new tech jobs while maintaining Bhutan’s cultural values and environmental balance
Bhutan, a small Himalayan kingdom known for its focus on national happiness, has quietly built up Bitcoin holdings worth over $1 billion through state-sponsored mining operations powered by renewable energy. The country’s national investment arm, Druk Holding and Investments (DHI), has been mining Bitcoin since 2019 using the nation’s abundant hydroelectric resources.
The mining operation represents a careful blend of traditional values and modern technology. Bhutan’s approach differs from other mining operations worldwide by relying entirely on clean hydroelectric power, avoiding the environmental concerns that often surround cryptocurrency mining.
BHUTAN NOW HOLDS MORE THAN $1B WORTH OF $BTC.
Source: Arkham pic.twitter.com/q2wsuKcY6O
— Mario Nawfal’s Roundtable (@RoundtableSpace) February 16, 2025
Recent reports revealed that Bhutan transferred 367.26 BTC to Binance in November, showing that the government actively manages its cryptocurrency portfolio. This transfer suggests a strategic approach to digital asset management rather than simple accumulation through mining.
The $100B Smart City Plan
The country’s involvement in cryptocurrency extends beyond mining. In January 2024, plans were announced for the Gelephu Mindfulness City (GMC), a $100 billion development project that aims to integrate digital assets like Bitcoin, Ethereum, and BNB into the nation’s strategic reserves.
GMC represents an ambitious attempt to modernize Bhutan’s economy while maintaining its cultural identity. The project focuses on what developers call “mindful capitalism,” seeking to attract international investment while preserving social and environmental balance.
The development plan for GMC includes creating a technology and financial hub that incorporates Bhutanese cultural values. This approach could serve as a model for other nations looking to adopt digital assets while preserving their cultural heritage.
Bhutan’s national investment company has shown foresight in diversifying its digital asset holdings. While Bitcoin remains the primary focus, the inclusion of other cryptocurrencies in the GMC project suggests a broader strategic vision for digital asset management.
The mining operations are creating new job opportunities for local residents, particularly in technology and digital finance. As Bitcoin mining activities expand, the demand for specialists in blockchain technology and crypto-based financial systems continues to grow.
DHI’s mining operation benefits from Bhutan’s cool climate, which helps reduce the cooling costs typically associated with crypto mining operations. The mountainous terrain that once isolated Bhutan from the world now provides natural advantages for digital asset mining.
The government’s approach to cryptocurrency appears carefully planned. Rather than making public announcements, Bhutan has quietly built its position in the digital asset space over several years.
Recent data shows Bitcoin trading at approximately $96,383.96, with a 1.07% correction over 24 hours and a 6.61% change over the past 30 days. These price movements directly affect the value of Bhutan’s holdings.
The country’s strategy includes regular portfolio management, as evidenced by the Binance transfer. This suggests an active approach to managing digital assets rather than simply holding them.
Bhutan’s hydroelectric resources play a crucial role in the operation. The country’s rivers provide more power than the domestic market can use, making cryptocurrency mining an effective way to convert excess energy into digital assets.
The mining operation’s success has attracted attention from other nations with surplus renewable energy. Bhutan’s model shows how countries can use clean energy resources for digital asset mining.
Local universities and technical schools are developing programs to train residents in blockchain technology and cryptocurrency operations, preparing the workforce for expanding opportunities in the digital asset sector.
