coinspress.com
The Royal Government of Bhutan possesses 13,029 Bitcoin ($BTC), valued at around $755 million, as per Arkham Intelligence’s on-chain data.
Additionally, Bhutan’s wallets hold 656.013 Ethereum (ETH), valued at approximately $1.5 million.
Among governments, Bhutan ranks fourth in Bitcoin holdings. The US leads with 213,246 $BTC, followed by China with 190,000 $BTC. Bhutan surpasses El Salvador’s 5,800 $BTC but falls short of the UK’s 61,000 $BTC.
Bhutan’s Bitcoin reserves are linked to state-run mining operations rather than confiscations. The country, through its investment arm Druk Holding & Investments, has been mining Bitcoin for several years, ramping up operations in 2023 with hydroelectric-powered sites. Data shows Bhutan’s government began accumulating $BTC in February 2021.
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In 2023, Bitdeer Technologies Group, a Bitcoin mining firm, launched a data center in Bhutan and, in April, partnered with Druk Holding to expand mining capacity sixfold. By mid-2025, mining output in Bhutan is set to reach 500 megawatts.