Crypto intelligence firm Arkham highlighted the Kingdom of Bhutan’s bitcoin holdings on social media platform X this week. Bhutan is a small, landlocked kingdom located in the eastern Himalayas, bordered by China to the north and India to the south. The country currently has a population of less than 800,000 people.

Arkham has been tracking Bhutan’s onchain bitcoin transactions, with the government currently holding over $828 million in BTC. The crypto intelligence firm detailed:

These holdings come from bitcoin mining operations carried out by the Kingdom of Bhutan’s investment arm, Druk Holdings.

Arkham’s onchain data on the government of Bhutan’s bitcoin holdings. Source: Arkham Intelligence.

“Bhutan has constructed bitcoin mining facilities in multiple locations, with the largest being on the site of the now-defunct Education City project,” Arkham further shared.

The crypto intelligence firm explained that it was able to confirm this activity by reviewing satellite imagery and matching it with the timeline of onchain mining operations. “We were able to corroborate the timeline of on-chain mining activity with time-lapse satellite imagery of facility construction,” Arkham described, noting:

Unlike most governments, Bhutan’s BTC does not come from law enforcement asset seizures, but from bitcoin mining operations, which have ramped up dramatically since early 2023.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。