The Kingdom of Bhutan, which aims to be the happiest country in the world, has been operating a bit coin mining business for more than three years secretly to the people

The Kingdom of Bhutan, located west of Nepal between China and India, has reportedly been operating a bitcoin mining operation using renewable energy for at least three years.

DHI confirms that it is mining Digital Assets – The Bhutanese

Has Bhutan Been Quietly Mining Bitcoin Since 2017? (Report)

Bhutan has been mining Bitcoin with hydropower since BTC price was $5,000

The Kingdom of Bhutan is a small country, but according to the 2005 census, about 97% of the people answered that they were 'happy' due to the policy of emphasizing gross national happiness advocated by Jigme Singye Wangchuck, the 4th King of the Kingdom of Bhutan. We are proud of high happiness such as.

The Kingdom of Bhutan's main source of power generation is hydroelectric power, and almost all of the approximately 800,000 people of the Kingdom of Bhutan rely on hydroelectric power. According to local media The Bhutanese, in April 2019, when the price of bitcoin was about $5,000 (about 550,000 yen at that rate), the Kingdom of Bhutan government started a bitcoin mining business. matter.

It is also reported that the Kingdom of Bhutan invested millions of dollars (hundreds of millions of yen) in virtual currency by Druk Holding & Investments (DHI), a state-owned holding company. The investment was made secretly and was not known to the public.

In addition, the royal government is reportedly negotiating with mining company Bitdeer to provide 100 megawatts of the 550 megawatts of electricity generated in the Kingdom of Bhutan in order to expand its mining business. The deal increased Bitdeer's mining capacity by about 12%. At the same time, it turned out that he had purchased a computer chip worth 193 million dollars (about 26.5 billion yen).

Analyst Jaran Mellerud said: 'It's no surprise that there are operators mining bitcoin in Bhutan. The country has huge hydropower capacity, and per capita electricity generation is about the same as the United States. There is no doubt that this cheap hydropower will be attractive to miners who turn cheap electricity into bitcoins.”

On the other hand, The Bhutanese commented, 'There is concern that Bhutan's resources are being secretly invested in highly unstable and high-risk investments, and that there is a heavy burden on the environment.'

in Note, Posted by log1i_yk