Bhutan wants to raise $ 500 million to strengthen Bitcoin Mining: Report

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Von: Krypto News Österreich

Druk Holding & Investments – der Investmentarm der Königlichen Regierung von Bhutan – ging eine Partnerschaft mit dem an der Nasdaq notierten Unternehmen Bitdeer Technologies Group ein, um einen 500-Millionen-Dollar-Fonds aufzulegen, der Bitcoin-Mining-Aktivitäten im Himalaya-Land unterstützen soll. Jüngste Quellen deuten darauf hin, dass die Nation möglicherweise seit 2017 heimlich BTC produziert und dabei ihre enorme Menge an Wasserkraft nutzt. Bhutans Mission, ein BTC zu werden Mining Hub Die Regierung des Binnenstaates in Südasien scheint entschlossen, die Region als führenden Faktor in der Bitcoin-Mining-Szene zu etablieren. Zu diesem Zweck Druk Holding & Investments zusammengearbeitet mit Bitdeer, um einen Fonds in Höhe …
Druk Holding & Investments-the royal government of Bhutan's royal government-entered into a partnership with the company Bitdeer Technologies Group listed at the Nasdaq in order to set up a 500 million dollar fund that is intended to support Bitcoin mining activities in Himalaya. The latest sources indicate that the nation may have secretly produced BTC since 2017 and used its enormous amount of hydropower. Bhutan's mission to become a BTC Mining Hub The government of the inland state in South Asia seems determined to establish the region as a leading factor in the Bitcoin mining scene. For this purpose, Druk Holding & Investments worked together with Bitdeer to highlight a fund ... (Symbolbild/KNAT)

Druk Holding & Investments-The Investment Army of the Royal Government of BHUTAN-entered into a partnership with the company Bitdeer Technologies Group listed at the Nasdaq, to ​​support a $ 500 million fund should.

recent sources indicate that the nation may have been producing BTC secretly since 2017 and uses its enormous amount of hydropower.

Bhutan's mission to become a BTC mining hub

The government of the inland state in South Asia seems determined to establish the region as a leading factor in the Bitcoin mining scene. For this purpose, Druk Holding & Investments worked together with Bitdeer to raise a fund of half a billion dollars. Financing could develop the green crypto mining in the region through the use of Bhutan's hydropower resources.

The fund is expected to be aimed at institutional investors from the end of May, while Druk and Bitdeer will also participate as donors. Ujjwal Deep Daal-CEO of BHUTAN's investment arm-believes that entering the BTC mining sector is the most risky way for the country to enter the industry.

"It is important for us to look at assets with little volume, high value or digital assets and try to position ourselves so that we can be globally competitive over time to build up our economy," he added.

Bitdeer-a crypto mining giant based in Singapore-intends to build a 100-megawatt operation in Bhutan. The construction work should begin in the second quarter of the year and be completed by September.

Newer sources indicated that Bhutan could have jumped on the BTC mining train in 2017. A government representative said Forbes at the beginning of this week that the country "joined the ecosystem as one of the first participants a few years ago when the price of Bitcoin was around $ 5,000".

Bhutan's other crypto forays

In addition to its massive Bitcoin mining plans, the country has also indicated . The Enterprise Blockchain provider-Ripple-said in 2021 that the Royal Monetary Authority (Bhutan's central bank) would allow its network to use this goal:

"We are proud to announce our partnership with the Central Bank of Bhutan today, the Royal Monetary Authority (RMA), Ripple’s CBDC solution to use a digital central bank currency (CBDC) in phases."

The bank expects the potential step to improve cross-border payments and expand financial inclusion. Ripple said that Bhutan's green politics would take into account and explained that the CBDC solution would correspond to its principles:

"Rippleda's commitment to sustainability was important for Bhutan. The CBDC solution is climate-neutral and, since it is based on the public XRP Ledger, 120,000 times more energy-efficient than proof-of-work blockchains."

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