Druk Holding and Investments (DHI), Bhutan’s largest holding company and sole government, said it has been mining Bitcoin (BTC) for years.
The company became interested in mining Bitcoin when the value of Bitcoin was about $5,000. The company is also interested in mining Ethereum, but not as much as Bitcoin, local media outlet The Bhutanese reported April 28.
According to the company, investing in Bitcoin mining is a strategic move and not FOMO or fear of falling out of trend.
The country has also reportedly invested millions in Bitcoin and other digital coins.
Use clean energy to mine Bitcoin
The government of Bhutan has been using Bhutan’s renewable energy to mine Bitcoin, which is generated through hydropower projects. Extreme Bitcoin Mining
investment in mining cryptocurrency It is part of Bhutan’s efforts to boost economic growth.
“Our portfolio includes investments in different asset classes. That opens up to the traditional sectors and industries that drive the modern economy. These include global equities, fixed income and venture capital investments in promising startups. Domestic and foreign real estate Renewable energy includes hydropower, health tech, biotech, life sciences and agri-tech, and mining and digital asset investment,” DHI said.
In addition, DHI CEO Ujjwal Deep Dahal stated that the company was able to repay all loans borrowed from the bankrupt crypto firms BlockFi and Celsius. He clarified that DHI has not suffered any financial losses.
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