In May, it became known that the Kingdom of Bhutan, hidden among the Himalayan mountains, has been actively mining bitcoins using hydroelectric power for the past five years. Starting mining in 2020, the country managed to accumulate over 13,000 $BTC — about $1.3 billion, which accounts for nearly 40% of the GDP of a state with a population of only 780,000 people.
Earlier, more modest volumes were reported — 8,594 $BTC , but new data revealed the true scale of the cryptocurrency reserve. At one point, Bhutan was among the top five largest holders of bitcoin among countries worldwide.
Today, the country not only continues to store its digital assets but also seeks ways to integrate cryptocurrency into everyday economy. In May, the authorities launched a new payment system for tourists — now foreigners can pay for flights, hotels, and visas using more than 100 different cryptocurrencies.
Bhutan is rapidly developing despite its modest size. In the capital Thimphu, there are still no traffic lights, and archery remains the main national hobby. Just 15 years ago, the first credit card transaction took place in the country.
Bitcoin mining has proven to be particularly effective for Bhutan: in the summer, the country generates a surplus of electricity, which is now profitably used for mining digital gold. Thus, cryptocurrency serves not just as an asset for the kingdom, but as a kind of 'energy bank'.
