But in the midst of growing economic pain and brain, the small, closed Himalayan Kingdom accepts a new emblem of progress, which converts a butane in a leading role, globally, in the global financial innovation: Bitcoin.
Located between India and China, Bhutan – and the first country in the world to become carbon negative – amounted to millions of dollars in the world’s most popular enemy in recent years, making the economic bets for almost no other country, to the same extent.
Well, why does Bhutan go big on Bitcoin? How is the hole energy intensely cryptorurrency? How much wealth in Bitcoin holds country? And whether her move is risky, given the wild fluctuations in prices That the digital currency was witnesses over the years?
What is bitcoin and how are you mine?
Bitcoin is the first decentralized, peer-to-peer cryptourrence, created in 2008. years. Does not control any governments.
People can buy and sell cryptorhood such as bitcoin, and these transactions are recorded in a joint book called BlockChain. Bitcoin has a value because there is a final number of bitcoin that can exist on the blockade, about 21 million. Most of these coins are mined and stays around a million.
Bitcoin Mining is a process through which the new bitcoins are officially added to Blockchain. For mine bitcoin, energy assuming supercomputer must solve the complex puzzle. This adds a new digital coin in circulation.
How is Bhutan Mining Bitcoin?
Boutan hydroelectric power plants Supercom compensations that solve complex problems that will be rewarded with Bitcoins that can be added to Blockchain.
“It’s just a simple strategic choice that many people have made and earned billions of dollars, and I think governments should do that,” said the Bernard Smith Al Jazeero in the capital, Thymph, in March.
Tobgay explained that there are more water flow during the summer months, and hydroelectric power plants create more energy than necessary.
“That Bitcoin mining makes a huge sense,” Tobgay said.
Why is Bhutan face the economic crisis?
The country is in the middle of the installation of economic challenges, and Bitcoin Mining is among the set of steps that the people of 800,000 people lead to the fight against the crisis.
The country has no exit to the sea, and although – into just over 38,000 square kilometers (14,672 square kilometers) – is almost large as Switzerland, most of this country is not arable due to the mountainous terrain. Bhutan imports most of their food from India, which Tobgay described as “closest friend and neighbor”.
The International Monetary Fund (IMF) estimates the BHUTAN gross domestic product (GDP) in the amount of $ 3.52 billion in 2025. Years. Based on that, tourism contributes about 3.4 percent in GDP in the country. However, after Covid-19 shook the industry, Bhutan fought to withdraw people to visit his mountains, forests and Buddhist shrines.
Bhutan has long been controlled by hosts of hosts to ensure that her intact ecology does not affect higher rates than he can manage. It charges a sustainable development fee in the amount of $ 100 to foreign tourists. The only exception to this rule is tourists from India, who have to pay $ 15. Tobgay says the vision behind him is attracted by tourists “high value and low quantity”.
But now, Bhutan is struggling to get even a limited number of tourists who wants. According to Tobgaj, the country can accommodate about 300,000 tourists every year.
“Last year, I think he visited about 150,000 tourists,” Prime Minister said.
No.
How would Bitcoin help Bhutan fight their economic challenges?
One of the most important powers of symptoms of Butan’s crisis is an exodus of young, educated people in other countries in the last few years – and their departure of just compounding the country’s economic struggle.
2022. Sam, More than 10 percent From the Bhutan’s qualified and educated population left the country. Australia, one of the main destination countries, saw its butagan immigrant population more than twice in five years between 2016. and 2021. years.
“We have a job in the boot, but I can’t compete against the salaries I can earn elsewhere in developed countries,” Tobgay said.
This brain drain is also exhausted by butan’s civil service. There was a sharp increase in civil servants who stopped systemic services since 2019. by the number of civil servants to increase by 2023. years, the St. Funding to Broadcasting (BBS) reported in April 2024. years.
Here seems to be where Bitcoin seems to be an economic resource, in 2023, the Boothan government sold $ 100 million to double the salaries of civil servants, and Al Jazeere reported from Thimphu.
Since then, BBS reported the border decline of civil servants leaving work. In the first quarter of 2024. year, 500 civil servants submitted, compared to almost 1,900 who resigned in the same period in 2023. years.
How much bitcoin is keeping butane?
Bhutan did not formally discovered how much he held in Kriptoturchino.
However, according to Blockchain Intelligence company Arkham, Bhutanov Bitcoin estate are worth More than $ 600 billion From 9. April consists of about 30 percent of the Kingdom GDP.
Arkham data suggest that butane has other cryptorurers, including Ethereum and Linqai. Albiit Bildings These currencies Kingdom are much smaller than those bitcoin.
Bhutanov King, Jigme Khur Namgyel Wangchuck, long advocates for the country to invest in his digital infrastructure.
“Being a small nation makes us a smart people – it is not out of choice, but in need,” King said at the request for 2019. year. “Technology is an indispensable tool that will be needed for the realization of this aspiration.”
Is Bhutan’s Bitcoin Mining Sustainable?
Bitcoin Mining is one of the few endeavors that enables butane, constitutional monarchy, to grow its economy, while aligning with their values as a country, analysts say.
“The number of investments in the private sector that are quite limited to the limitations that come with the Bhutan’s mandate to retain about 60 percent of the forest cover, and not to focus on the associate in the Reservor Foundation in Novi Delhi (ORF), Al Jazeera said.
This restriction is also something about frequent Prime Minister Tobgay.
“We had very careful to be very careful in direct investment,” Tobgay said. “We were careful on permission to the industries that would harm the environment, it would pollute our air, it would violate our culture.”
What Bhutan has is the surroundings and natural resources that suit the Mining of Kriptoturchinka, Orf of Sivamurth said.
The capital, Thimphu and other regions have cold temperatures, reducing the need for excessive cooling systems needed to prevent supercomputer from overheating. The average temperatures in the country remain between 15-30 degrees Celsius (59-86 degrees Fahrenheit) throughout the year, according to the World Bank data.
Earth also produces more hydroelectric power plants than it consumes.
“It is important for Bhutan to capitalize the green energy we have in the spaces of Bitcoins as part of our investment portfolio,” Ujwal Deep Dahal, director of the Royal Government Bhutan, told Al Jazeer.
Butane exports hydroelectricity to India. But Bitcoin Mining offers a butane alternative to export. Where tariff rates are good, sales power in India. In projects in which rates are not good, butane retains power and use it in Mitcoin instead, Shivamurthy Orf explained.
“Instead of exports (hydroelectric power plants), we use it for Mine Butcoins in the high mountains of Butan,” Tenzing Lamsang, the editor-in-chief of newspapers, private weeks in Thimph, said Al Jazeera.
In addition to the Mining Bitcoin, the country is building a special administrative region and the economic center, Glephus Mindlyty City, to combine their ideals of sustainability and well-being with commercial growth. The city is urban development project with low buildings, sustainable companies, residential areas, national park and wildlife shrine.
Are other government mining bitcoin?
While governments were cautious about Bitcoin in their early days, many are now Changing their access.
6. Marta, the President of the United States Donald Trump founded a Strategic Bitcoin Reserve. In addition to the United States, El Salvador holds almost $ 550 million in Bitcoin, the government announced 5. March.
Other governments, such as the Central African Republic and France, begin to recognize Bitcoin as a legal tender.
7. April Pakistan named Changpeng Zhao, the founder of Bininance, which is the largest crypto-exchange globally, as an Council Advisor Pakistan Crypto (PCC), The regulatory body was founded in March, because the country is trying to position itself as a crypto leader in South Asia.
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2025-04-14 04:16:00
