{"id":17034,"date":"2024-09-17T16:14:31","date_gmt":"2024-09-17T13:14:31","guid":{"rendered":"https:\/\/forklog.com\/en\/bhutan-mines-over-13000-btc\/"},"modified":"2024-09-17T16:14:31","modified_gmt":"2024-09-17T13:14:31","slug":"bhutan-mines-over-13000-btc","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bhutan-mines-over-13000-btc\/","title":{"rendered":"Bhutan Mines Over 13,000 BTC"},"content":{"rendered":"<p>The Bhutanese government&#8217;s Bitcoin assets amount to 13,036 BTC ($770 million). The relevant addresses were <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/druk-holding-investments\">tracked<\/a> by experts from the analytical platform Arkham.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXcmW0mfCWFLBlnTcry0e6kYCtsD8QfJ_MepSlmv66qpzm-gSohA0QcTwVbyTgqY1alrujB6bcRHq9wiGv4XM4ZWoQgx37HGJnYT93YWTDo8d2EK5cGp5rrS6IZyV9vmmgEzAlV0SdnM_pbGyGvAfEm0TDCA?key=hG1etyuZcogcSxbJmIqVtg\" alt=\"Bhutan Mines Over 13,000 BTC\"\/><figcaption class=\"wp-element-caption\">Bhutan&#8217;s crypto assets. Data: Arkham.<\/figcaption><\/figure>\n<p>The nation has accumulated digital gold amounting to nearly a third of its GDP through mining conducted by the state fund Druk Holdings. Bhutan ranks fourth in Arkham&#8217;s list of countries by government-held Bitcoin volume.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bhutan is the 4th largest government with Bitcoin holdings on our platform, with over $750M in BTC.<\/p>\n<p>Unlike most governments, Bhutan\u2019s BTC does not come from law enforcement asset seizures, but from Bitcoin mining operations, which have ramped up dramatically since early 2023. <a href=\"https:\/\/t.co\/5bCRk9ajti\">pic.twitter.com\/5bCRk9ajti<\/a><\/p>\n<p>\u2014 Arkham (@ArkhamIntel) <a href=\"https:\/\/twitter.com\/ArkhamIntel\/status\/1835712537436025314?ref_src=twsrc%5Etfw\">September 16, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cUnlike most authorities, Bhutan acquires BTC not through asset seizures by law enforcement but through mining, which has surged since early 2023,\u201d Arkham noted.<\/p>\n<\/blockquote>\n<p>The government has established facilities for mining digital assets in several locations. The largest is a farm created within the closed Education City project. Experts discovered it using satellite imagery.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXdtEZGUxdcL_XsXxhjFDaECgiLoQc7Xe8CZsfcOIhJtddLf-GByu8kPxwt6Qm7Fh8x3-AO_U2pJkkvY3-VZR6q1wZfZfY8SU3CLbMrMa65M8qm1T0hCLsQod-R9D_OCLAHffWM2ybkfoHYAZSfBfRcj3Gsc?key=hG1etyuZcogcSxbJmIqVtg\" alt=\"Bhutan Mines Over 13,000 BTC\"\/><figcaption class=\"wp-element-caption\">Bhutan&#8217;s mining farm in Education City. Data: Arkham.<\/figcaption><\/figure>\n<p>Earlier, Forbes conducted an investigation and found that the Kingdom of Bhutan has transformed into a \u201ccrypto Shangri-La\u201d thanks to the allocation of land, funding, and energy by the country&#8217;s authorities for Bitcoin mining.<\/p>\n<p>In July 2023, Bitdeer completed the construction of the Gedu Bitcoin mining facility in Bhutan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bhutanese government&#8217;s Bitcoin assets amount to 13,036 BTC ($770 million). The relevant addresses were tracked by experts from the analytical platform Arkham. Bhutan&#8217;s crypto assets. Data: Arkham. The nation has accumulated digital gold amounting to nearly a third of its GDP through mining conducted by the state fund Druk Holdings. Bhutan ranks fourth in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1676,1137],"class_list":["post-17034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bhutan","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"63","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17034"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17033"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}