Bhutan Confirms State-Backed Mining Programme Now Holds Thousands of BTC
The Himalayan kingdom has quietly become one of the largest sovereign holders of Bitcoin through its state-owned investment vehicle Druk Holding.
Bhutan's sovereign investment arm Druk Holding and Investments has publicly acknowledged that it operates a Bitcoin mining programme powered by the country's abundant hydroelectric capacity. Blockchain analytics firms including Arkham have previously identified wallet clusters attributed to the country holding several thousand BTC.
Officials have framed the programme as a diversification strategy that leverages excess renewable generation during monsoon months, when domestic demand is significantly below installed capacity. Revenues have reportedly been used to help fund civil service salary increases.
The disclosure adds Bhutan to a small but growing list of sovereign entities with meaningful Bitcoin exposure, alongside El Salvador and the United States government, which controls seized coins through the US Marshals Service.
