In a bold and strategic play, the Kingdom of Bhutan—known for its serene landscapes and Gross National Happiness—has made waves in the crypto world by silently offloading 2,584 BTC worth over $213 million within just 40 days.
According to data sourced from Binance and QCP Capital, the sales took place between October and December 2024, with Bhutan cashing out at an impressive average price of $81,999 per BTC.
But what’s behind this royal Bitcoin drain?
Bhutan’s national investment arm, Druk Holding and Investments (DHI), isn’t just mining crypto for clout. The nation is redirecting these digital profits to power real-world growth:
Salary Surge: Nu 8 billion from the Bitcoin treasury is funding a massive 50% pay hike for civil and public servants.
Energy Costs: As mining consumes significant power, part of the sales went to cover massive electricity bills—95% of mining costs, to be precise.
Operational Fuel: Ongoing infrastructure and maintenance costs are also covered by the digital asset cash-out.
And here’s the kicker: Bhutan still holds 11,688 BTC—now worth a staggering $1.15 billion, roughly 27% of its GDP. This makes Bhutan one of the largest state-level Bitcoin holders in the world.
Backed by its hydro-rich terrain and a powerful partnership with Bitdeer Technologies, Bhutan is already scaling up to a 600 MW mining capacity by 2025—a move that could place this quiet Himalayan nation at the forefront of global Bitcoin mining.
From mountain peaks to blockchain power plays, Bhutan is proving that digital assets can fuel national development—quietly, but powerfully.
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