It looks like Bhutan has also slowed or stopped its Bitcoin mining work. The country used to use its plentiful hydropower to run mining machines. This was a unique plan for a small country. However, records show that no large amounts of new BTC have come into the government’s digital wallets for over a year.
The sovereign wealth fund, known as Druk Holding and Investments, has not said anything publicly about why the mining has stopped or why they are selling so much. There are a few good reasons why this shift might be happening. When Bitcoin prices were higher and the network was easier to work with, mining was very profitable. Now, the math has changed.
are lower, and the network is much harder to mine. On top of that, mining rewards were recently cut in half. Bhutan might find it better to sell its electricity to neighboring India rather than use it to mine Bitcoin.
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