Is Bhutan running a bitcoin mining operation?

The Himalayan kingdom confirmed it has been running a bitcoin mining operation as mystery surrounds the scale of its earlier cryptocurrency investments. Beneath the Himalayas, rivers fed by ancient glaciers supply the tiny kingdom of Bhutan with immense stores of hydroelectricity.

Are Bhutan's cryptocurrency mines a secret?

Several sources inside Bhutan told Forbes that the mines are now an open secret, though neither the Bhutanese government nor DHI have formally disclosed their existence. In emails to Forbes, DHI has consistently declined to comment on the scope or financing of its cryptocurrency regime.

How much is bitcoin worth in Bhutan?

DHI, which oversees Bhutan’s bitcoin operations, told local newspaper The Bhutanese that it “entered the mining space” when the cryptocurrency’s price was $5,000 (it was last valued at this level in April 2019 but is now worth $36,000). Bhutan’s own import data and satellite imagery suggest that its operations truly ramped up in 2020.