Источник Bitcoinist.com
Заголовок Bhutan Vaults To Top 4 In Global Bitcoin Reserves With $750 Million Haul
Дата 20240917

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Bhutan Vaults To Top 4 In Global Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Reserves With $750 Million Haul

Bhutan Vaults To Top 4 In Global Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Reserves With $750 Million Haul

by Christian Encila

3 mins ago

in Crypto News

0

Bhutan has emerged as one of the key players in the world of bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining
recently. Its holdings have now been estimated to be around $780 million.

Related Reading: Crypto Beef Up 2024 US Elections With $190 Million In
Donations

This has come after Arkham Intelligence identified Bhutan as the
fourth-largest governmental holder of bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin in the world. Unlike many other
countries that acquire Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin due to seizures or purchases, the wealth in
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта by Bhutan comes from its own mining activities. This is
because the country has an abundance of hydropower resources that it can tap
to run its mining facilities.

A Unique Mining Strategy

The Kingdom of Bhutan has been mining Bitcoins since at least 2017, but it was
only until last year that it stepped up measures to boost its operations
significantly. Druk Holding & Investments, Bhutan s investment arm
and a government body, oversees the mining activities.

BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAM

Bhutan’s Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin holdings are now labeled on Arkham. These holdings come from
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining operations carried out by the Kingdom of Bhutan’s investment
arm, Druk Holdings.

Arkham is the first to publicly identify these… pic.twitter.com/a8ScUNJJ9F

Arkham (@ArkhamIntel) September 16, 2024

The country built several mining facilities throughout its mountains and the
largest one on the former Education City project site. This strategic decision
would not just seize available infrastructure but also would fall in line with
the pillars of sustainability Bhutan commits to. Total crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта cap
currently at $2.005 trillion. Chart: TradingView

The nation’s focus on eco-friendly practices is further exemplified by its
partnership with Bitdeer Technologies Group, which aims to develop a
carbon-neutral mining operation.

The partnership will increase Bhutan s mining capacity from 100 to 600
megawatts by 2026. This ambitious proposal shows Bhutan s ability to
lead cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта and diversify the economy.

Bhutan is rated as a lower-middle-income country, and traditionally, it has
relied on hydropower, tourism, and agriculture. In such a context, this shift
toward digital assets is very significant.

Image: Rollercoin

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Mining: Economic Implications

Bhutan is taking this step forward with Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining , not just to pile
wealth but push forward their economic strategy. Over one-third of the
country s GDP is tied up in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin now, and all that the government can
do is find new revenue streams to lift its economy.

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Trump; Trump-Based Crypto Tokens Collapse

With the beginning of mining operations, the country has witnessed increased
consumption of domestic energy, thereby resulting in the decrease of
hydropower exports to the neighboring country of India, which had been a
traditional source of revenue for Bhutan.

The new industry would remain subject to the regulatory laws thanks to steps
implemented by the Royal Monetary Authority of Bhutan. The Know Your Customer
(KYC) regulations and consumer protection, together with creating a secure
environment for investing in digital assets, are among the implemented steps.

As global interest in cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта grows, Bhutan s proactive
approach could serve as a model for other nations looking to enter this space.

Featured image from Pexels, chart from TradingView

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