Bhutan to Raise $500 Million for Sustainable Cryptocurrency Mining

Bhutan’s investment arm, Druk Holding & Investments, and Nasdaq-listed company Bitdeer Technologies Group, have announced their plans to raise up to $500 million from institutional investors for the development of sustainable cryptocurrency mining in the Himalayan kingdom. The proposed carbon-free digital mining will heavily rely on Bhutan’s abundant hydroelectric power. The goal is to tap into low volume, high-value digital assets, especially Bitcoin, that will position the nation to be globally competitive over time and drive economic growth. CEO of Druk Holding & Investments, Ujjwal Deep Dahal, emphasized the importance of exploring such assets and positioning their economy to be competitive globally.