Blockchain data shows that the government of the Kingdom of Bhutan has staked 320 Ether (ETH) through Figment, valued at approximately $970,000. This marks the latest on-chain activity for the Himalayan nation as it expands its cryptocurrency holdings and validator operations.
Figment is a staking service provider that helps large investors and institutions stake digital assets across multiple blockchains and earn rewards by securing proof-of-stake networks.
This move adds to Bhutan's growing Ethereum-related activities. In October, this South Asian country, with a population of about 800,000, began migrating its self-sovereign digital identity system from Polygon to Ethereum, allowing residents to verify their identities online and access government services.
Aya Miyaguchi, chair of the Ethereum Foundation, stated at the launch event attended by Vitalik Buterin and Bhutan's Prime Minister Tshering Tobgay that the Ethereum integration is live, and all resident credentials are expected to be fully migrated by early 2026.
Bhutan has been involved in digital assets for years. In 2019, the country quietly began accumulating BTC by leveraging its hydropower resources for mining. According to Arkham data, it holds approximately 6,154 BTC, valued at over $562 million at current prices.
In July, Bhutan announced plans to boost its tourism industry and attract younger visitors by integrating cryptocurrency payments nationwide. Officials stated that this Binance-supported initiative has nearly 1,000 merchants onboard, aiming to modernize remittances and reduce friction for tourists.
Bhutan's growing activity reflects a broader trend of institutional and corporate BTC accumulation, with large holders becoming increasingly influential in the market.
Among corporate BTC treasury holders, Michael Saylor's Strategy leads with 649,870 BTC, while Marathon Holdings ranks second with 53,250 BTC, far behind.
The largest known BTC reserve globally still belongs to Satoshi Nakamoto, the anonymous creator of the network, who is estimated to control about 1.1 million BTC.
Related: How the SEC's 2025 revision plan will simplify cryptocurrency regulation
Original article: “Bhutan stakes $970,000 in Ethereum (ETH) through Figment, advancing validator business”
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