An interesting story about how a small country has been able to leverage its abundant renewable energy resources via a digital solution to build up its strategic reserves.
Bhutan has been quietly mining Bitcoin (“BTC”) using its hydropower resources to the point that its $780M Bitcoin holdings are now equal to 25% of its total GDP!! (13,000+ BTC @ $60k)
To put that another way: Bhutan now has $1,000 worth of Bitcoin for every one of its 780,000 citizens…
Instead of mining resources/generating renewable energy before exporting it through continent-spanning physical infrastructure networks, Bhutan has exported their renewable energy digitally.
This brings a whole new meaning to the concept of “renewable energy exports”. #ThinkingOutOfTheBox
Fun facts about Bhutan:
– It prioritizes “Gross Domestic Happiness” over GDP (~$3.11B)
– It has the 5th highest $BTC holdings of any country in the world
https://www.forbes.com/sites/digital-assets/2024/09/17/how-bhutan-quietly-built-750-million-in-bitcoin-holdings/
“Bhutan’s entry into bitcoin mining and cryptocurrency investments offers valuable lessons for other small nations:
– Countries can leverage natural resources, like hydroelectric power, for emerging technologies.
– There is potential for economic diversification, reducing dependence on traditional sectors such as tourism.
– Illustrates a model for quiet integration into the crypto space, avoiding unnecessary attention.”
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