Reported Fobes, Bhutan has been mining Bitcoin with hydropower since the cryptocurrency's price was around $5,000 in April 2019. The country has been using its immense hydroelectric potential to power its Bitcoin mining operations.
Bhutanese officials confirmed that mining began when the price of Bitcoin was around $5,000 in April 2019. In addition, Bhutan has reportedly explored partnerships to expand its mining operations further. The kingdom is negotiating with Nasdaq-listed mining company Bitdeer to secure 100 megawatts of power for a Bitcoin mining data centre in Bhutan.
The scale of Bhutan’s mining operations remains a mystery, with little information available about the location, size and profitability of its mining farms. It is known that the state-owned holding company DHI has invested millions of dollars in cryptocurrency holdings.
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