{"id":82337,"date":"2023-07-28T16:42:35","date_gmt":"2023-07-28T13:42:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82337"},"modified":"2025-09-12T04:23:02","modified_gmt":"2025-09-12T01:23:02","slug":"media-reports-bitdeer-launches-fund-to-back-bitcoin-mining-in-bhutan","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-reports-bitdeer-launches-fund-to-back-bitcoin-mining-in-bhutan\/","title":{"rendered":"Media reports Bitdeer launches fund to back Bitcoin mining in Bhutan"},"content":{"rendered":"

Bitdeer has begun raising funds for the Green Bitcoin Fund, focused on investments in Bhutan’s mining industry, according to reporter Colin Wu.<\/p>\n

\"Media
Data: X<\/a>.<\/figcaption><\/figure>\n

The company, in partnership with the operator of the sovereign investment fund Druk Holding & Investments (DHI), aims to build a facility with a capacity of 600 MW and an expected hash rate of about 20 EH\/s.<\/p>\n

The investment term is six years, with a minimum commitment of $5 million. The first phase is expected to raise $80 million.<\/p>\n

Bitdeer and DHI in May announced the launch of the fund<\/a> to organise cryptocurrency mining in the kingdom. The parties anticipated that its size would be $500 million.<\/p>\n

The head of DHI, Ujwal Dip Dahal, told reporters, at the time, that the company had begun mining \u201ca few years ago\u201d when Bitcoin was around $5,000. At that level, digital gold traded in April 2019.<\/p>\n

In spring 2023, became known<\/a> that Bhutan’s sovereign fund had become a client of the bankrupt BlockFi<\/a> and Celsius<\/a>. Dahal assured journalists that the structure did not suffer any financial losses.<\/p>\n

Experts<\/a> interviewed by Forbes confirmed the presence of favorable factors for Bitcoin mining in the country. Among them, specialists cited the cool climate and an excess of available electricity.<\/p>\n

However, all generation in Bhutan comes from hydropower and falls sharply in the winter dry season due to river depletion. The country shifts from exporting energy to importing.<\/p>\n

Sources also noted that the joint mining project between DHI and the Singapore Bhutan Association had not progressed to implementation. Authorities reportedly opposed private-sector participation. Another obstacle was logistics: the mountainous country has no sea outlet, which makes delivery, maintenance, and repair of equipment significantly difficult.<\/p>\n

In April, Bitdeer became a public company<\/a> through a reverse merger with SPAC<\/span> Blue Safari Group Acquisition Corp.<\/p>\n

In May results, the firm reported<\/a> plans to launch a mining data centre in Bhutan with a capacity of 100 MW and a hash rate of 3.3 EH\/s.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitdeer has begun raising funds for the Green Bitcoin Fund, focused on investments in Bhutan’s mining industry, according to reporter Colin Wu.<\/p>\n","protected":false},"author":1,"featured_media":82338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,227],"class_list":["post-82337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-jihan-wu"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82337","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=82337"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82337\/revisions"}],"predecessor-version":[{"id":82339,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82337\/revisions\/82339"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82338"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}