Bhutan’s Hidden Bitcoin Mining: A Himalayan Secret
Bhutan, a small South Asian kingdom nestled in the Himalayan mountains, has been secretly mining Bitcoin for years, using its abundant hydroelectricity to power its crypto-mining operations in a sustainable and environmentally friendly way. This has made it an ideal location for digital asset mining operations.
Thanks to its ancient glaciers feeding the many rivers flowing through the country, Bhutan has an abundance of hydroelectricity. A renewable source of energy that can be largely considered to be “green”. Energy generated by hydroelectricity is currently fuelling the homes of most of the country’s 777,000-strong population, and it represents 30% of the country’s gross domestic product (GDP).
The country has been able to mine for tokens using its massive stores of hydroelectricity. A form of renewable energy that uses the power of moving water to generate electricity, without contributing to carbon emissions. This is in contrast to more commonly used methods of mining. Which require large amounts of electricity from non-renewable sources, leading to high carbon emissions and negative environmental impacts.
The revelation of Bhutan’s secret crypto-mining operations has stunned the international financial market. Bhutan’s crypto mining operations have been kept secret for several years, with even the country’s own citizens unaware of it.
Bhutan’s government representative recently stated that the country began mining “a few years ago as one of the early entrants when the price of Bitcoin was around $5,000″. The reason why the country has revealed its secret crypto-mining operations might be linked to the fact that it is looking for partners to further expand its project.
Bhutan’s sustainable crypto-mining operations represent a significant opportunity for the country to boost and sustain its economy. As it has struggled for years to establish its self-sufficiency. With its small size and limited resources, green crypto mining could be the solution to Bhutan’s economic independence. However, Bhutan’s larger neighbors, India and China, remain wary of crypto. Both India’s government and central bank have taken a strong stance against it. While China officially banned crypto trading in 2021.
