Key Takeaways
- Bhutan plans to increase its Bitcoin mining capacity by 500% to 600 megawatts.
- The expansion is in partnership with Bitdeer and fueled by renewable hydropower.
- Bhutan aims to offset the halving's impact and boost its rural economy through mining.
The Himalayan nation of Bhutan is set to expand its Bitcoin mining operations by 500%, aiming for a capacity of 600 megawatts.
This move comes ahead of the Bitcoin halving event expected in April.
Partnership and investments
Bhutan’s sovereign wealth fund, Druk Holding & Investments, is partnering with Bitdeer to enhance mining operations.
The country has been investing in Bitcoin since prices were around $5,000 and raised $500 million last year to boost its mining capabilities.
Economical Mining
Leveraging its renewable hydropower reserves, Bhutan aims for eco-friendly Bitcoin mining.
The partnership with Bitdeer, known for its low mining costs, is expected to offset the impact of the halving on mining revenues.
