The Kingdom of Bhutan, the world's happiest country, has announced a national Bitcoin development commitment, allocating up to 10,000 bitcoins (worth approximately $860 million) to support the development of the Glep Mindfulness City (GMC) Special Administrative Region. According to Arkham , Bhutan, which has long relied on low-cost mining using natural hydropower, currently possesses 5,984 bitcoins.
Bhutan possesses 5,984 Bitcoins, mined at low cost.
According to Arkham , Bhutan owns 5,984 bitcoins. Unlike other countries, the majority of Bhutan's bitcoin holdings come from its mining operations.
Given Bhutan's low-cost hydropower and cool climate, Druk Holding & Investments (DHI), the commercial arm of the Kingdom of Bhutan, has been investing in cryptocurrency mining for years. DHI's 420 MW facility began mining in 2022, primarily for Bitcoin. A second 500 MW mining farm, in partnership with Bitdeer, was also completed and began operation this year.
Glepp Mindfulness City will receive 10,000 Bitcoins
Gelephu Mindfulness City (GMC), a special administrative region in the Kingdom of Bhutan, is an economic zone covering 2,500 square kilometers (equivalent to three times the size of Singapore). It integrates mindfulness, technology, and green industries, funded by reserves extracted from hydroelectric power. In January of this year, GMC announced it would include BTC, ETH, and BNB in its asset reserves. GMC is a key component of Bhutan's blockchain strategy, aimed at economic diversification and attracting investment.
According to CoinDesk, Bhutan has announced a national Bitcoin development commitment, allocating up to 10,000 bitcoins (worth approximately $860 million) to support the development of the GMC (Government of Bitcoin Corporation). This commitment positions Bitcoin as a national strategic asset, not a speculative one. Bhutanese officials are exploring responsible approaches, such as pledging, treasury strategies, or long-term holding, to fund development and preserve its value.
This move aims to promote the sovereign application of Bitcoin in terms of national resilience; however, the lower-than-promised holdings have raised concerns about liquidity. According to Arkham, Bhutan currently holds 5,984 Bitcoins, down from 12,062 reported by ABMedia in May.
This article, "Bhutan Announces Allocation of 10,000 Bitcoins to Accelerate Economic Development in Greppu Mindfulness City," first appeared on ABMedia, a ABMedia .
