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    Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

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    Bhutan Emerges as 4th Largest Bitcoin-Holding Government with $780 Million in BTC

    Bhutan, the world’s 90th largest economy, owns 13,011 Bitcoin (BTC), worth $780.5 million, as revealed by the on-chain analytics firm Arkham Intelligence. The Bhutan Governmentโ€™s Bitcoin holding and the disclosure of its address are now gaining significant attention from the crypto community across the globe.

    Bhutan Bitcoin Holding

    According to the data, this massive BTC holding does not come from seizing assets through law enforcement but rather comes from the Bitcoin mining operations carried out by the Kingdom Bhutanโ€™s investment arm, Druk Holding. With this significant holding, Bhutan is not the 4th largest government with Bitcoin Holdings, totaling over $750 million. The countryโ€™s mining effort has significantly jumped since early 2023.ย 

    Arkham in his post on X (previously Twitter) noted,

    โ€œUnlike most governments, Bhutanโ€™s BTC does not come from law enforcement asset seizures, but from Bitcoin mining operations, which have ramped up dramatically since early 2023.โ€

    Bitcoin and Crypto Adoption in Bhutan 

    This disclosure highlights the countryโ€™s adaptation and confidence in Bitcoin as well as this rapidly evolving cryptocurrency landscape. According to the data, the average cost of this notable holding appears to be $59,987.

    Bhutanโ€™s Eco-Friendly Bitcoin Mining Operation 

    However, in mid-2023, Druk Holding partnered with Bitdeer to develop a 100% carbon-free Bitcoin mining activity in Bhutan. According to data, Bhutan is leveraging its abundant hydropower resources to support eco-friendly Bitcoin Mining. Additionally, this partnership has increased the mining capacity from 100 to 600 megawatts, driven by its ideal eco-friendly approach and geographical advantages.

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