Bitcoin Worth Nearly $12 Million Moved By Bhutan In Fresh On-Chain Activity
Proceeds from Bitcoin sales have paid for healthcare, environmental programs, and government worker salaries in Bhutan — a detail that puts the kingdom’s latest crypto move in sharper focus.
The April 2024 halving hit the operation’s profitability hard. Mining rewards dropped to 3.125 Bitcoin per block, pushing up the effective cost of each coin produced.
Since then, Bhutan has sold more frequently, and some Bitcoin miners globally have shifted their computing power toward artificial intelligence and data center work instead.
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Druk Holding Manages The Portfolio
All of Bhutan’s digital assets — Bitcoin included — are managed by Druk Holding and Investments, the country’s sovereign wealth fund. The portfolio also holds smaller amounts of Ether and a memecoin called KiboShib, which was reportedly generated by artificial intelligence.
What makes Bhutan’s position unusual is how grounded its crypto activity is in basic public finance. The kingdom is not sitting on Bitcoin as a long-term ideological bet. It is mining when the energy is cheap, selling when prices allow, and using the money to keep the lights on.
Featured image from Unsplash, chart from TradingView
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