Who would have thought that one of the most "Buddhist" countries in the world - Bhutan, 🧘♂️
Actually quietly started#BTC Bitcoin mining, and it's mining very hard!
According to Bloomberg and Arkham, Bhutan is now the third largest government holder of Bitcoin in the world,
Holding coins worth as much as $1.3 billion, which is 40%+ of their GDP!
🏔️ You may not be familiar with this country, but it has a lot of background 👇
Relying on the "Gross National Happiness Index" to measure national development instead of the Internet
The capital has no traffic lights 🚦, and everyone competes in archery 🏹 on weekends
Officials wearing traditional costumes, feeling like they walked out of a historical drama
Only swiped a credit card for the first time in 2010, truly a very Buddhist country...
But this is such a country that started secretly researching Bitcoin mining in 2019.
🔌 Why do they dare to mine? Because they have a "magic weapon"
Hydropower 💧! Cheap and stable!
Bhutan was originally a country that relied on hydropower exports for food,
But exports don't always have a good market, so they simply keep the electricity to mine and earn more!
Their logic is very simple:
"Bitcoin is like digital gold to us, it appreciates in value even when stored, which is more cost-effective than selling electricity."
🛠️ In the beginning, it was truly grassroots mining...
The CEO of the sovereign wealth fund self-studied blockchain and watched YouTube to learn how to mine,
Just put two machines in and overheated the office, and was woken up by security guards at dawn 😂
Officially built mines from 2020, building servers in the Yamaguchi area while the country was closed due to the epidemic,
Foreign aid could not come in, so they took the initiative and learned while doing!
💰 By 2022, Bhutan already has 4 national-level mines!
Coincidentally caught up with the BTC surge, this wave of income is quite good.
In 2023, the government also directly sold some BTC,
Took out $100 million to increase the salaries of civil servants! Directly distribute real money and silver to welfare 🎉
There are even Singaporean mining companies cooperating to open mines, earning US dollars from electricity and foreign exchange also flowing in.
🤫 But they are very secretive about the location of the mine...
Not public, not flashy, because they are worried about being attacked or abused.
Currently, according to satellite images, at least 6 mines have been confirmed to be in operation.
🌆 Bhutan is now not only mining, but also transforming into a "crypto city"!
Recently they launched a new payment system,
Supports 100+ cryptocurrencies for payment, which can be used to book hotels, buy air tickets, and apply for visas!
There is also a special administrative region called "Gelephu Mindfulness City",
To fully integrate cryptocurrencies, and even plan to issue its own digital currency.
The official statement is 👇
"Cryptocurrency is like salt in curry, it will permeate every corner."
⚠️ Of course, it's not completely without risk...
If the price of Bitcoin plummets, the government's finances will be affected,
And many ordinary people, until they heard about the salary increase for civil servants,
Did they know that the country had already hoarded a lot of Bitcoin 😅
But for a small country whose tourism industry has been severely hit by the epidemic and has suffered a large loss of talent,
This bet on crypto may be a new opportunity for it to break through the traditional path and break through with the help of technology.
🎯 Summary for crypto friends:
Bhutan is not speculating in coins, it is a national team entering the mining field
With the help of hydropower + Bitcoin, they are creating a brand new financial pillar
On the one hand, it is the "happiest country", on the other hand, it is the "blockchain pioneer",
I love this contrast ❤️
What do you think of Bhutan's operation?
Is it the inverse opening of the wisdom group of the Buddhist country, or a big gamble? 🎲
Welcome to leave a message and watch the Bitcoin version of the "upward breakthrough" story 🔥 together
✍️DYOR, do a good job of risk control, I wish you all a smooth sailing in the currency circle! 🌊
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