It was determined that Bhutan, where Jihan Wu, one of the founders of the Chinese Bitcoin mining device manufacturer Bitmain, has many known initiatives, has 13 thousand Bitcoins. Arkham, an on-chain tracking and analysis firm, conducted the research.

It does not take, it extracts!

As it is known, Bhutan knows how to utilise hydroelectric energy at significant levels due to its water resources and high mountains. While all of the country’s energy is provided by hydroelectricity, Bitcoin mining has also started to be done in recent years.

According to the information provided by Arkham, Bhutan did not obtain any of its 13 thousand detected Bitcoins through purchases or seizure from illegal organisations. The value of these Bitcoins, which come entirely from mining activities, is around $760 million.

As of 2023, the country stepped on the gas in mining operations and established facilities in many regions. The Google maps image below shows a large facility established in the Education City region, whose project is currently suspended.

As it is known, Bitdeer, the mining company owned by Jihan Wu, also has partnerships with the Bhutanese state.