With a sustainable system, this small country hidden nation in the mountains is among the main states with the greatest amount of cryptocurrencies in the world. Abundant and cheap electricity turned this remote and peaceful town in southern Asia into an unexpected center for digital currencies.
Butánthe small kingdom nestled in the Himalayas mountainsHe historically maintained an economy focused on sustainability and with little openness to the global market. However, in recent years, the country took a turn towards cryptocurrencies, especially the Bitcoinbecoming one of the main holders of virtual assets in the world.
With a population of around 800,000 inhabitants, Bután accumulated more than 12,200 bitcoin, with a value greater than US $ 1,200 million. This amount represents the 34% of its internal gross product (GDP), What places the country above El Salvador, the first country to adopt Bitcoin as legal tender, whose reservations amount to 5,944 bitcoin. According to Bitcoin Treasures data, Bután is positioned as the fifth country with the greatest possession of Bitcoin worldwide, surpassed only by the United States, China, United Kingdom and Ukraine.
The trend of accumulate and undermine Bitcoin in Bután continues to grow. In January of this year, the Special Administrative Region of Gelepphu, a city that stands out for its focus on sustainability and innovation, announced that it would incorporate cryptocurrencies such as Bitcoin and Ethereum to its treasury.
The GELEPHU authorities stressed that, being located at a strategic point that connects the emerging economies of southern Asia, the city has a unique opportunity to serve more than 2,000 million people in the region. Its objective is to promote the use of blockchain technology and strengthen the local economy through Bitcoin mining.
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What is the secret of success for Butan?
What is the secret behind Bután’s success in Bitcoin mining? The key is in its focus on sustainability, supported by its abundant energy resource: hydroelectric.
The country is distinguished by having great hydroelectric potential of 23,760 megawatts, A capacity that could supply New York energy demand twice. This resource was the engine that promoted Bután to opt for Bitcoin mining in 2021.
The results obtained so far are impressive: mining operations generate between 55 and 75 BTC per week, with revenues that vary between 3.6 and 4.9 million dollars. In a period of three and a half years, the country has extracted a total of 27,727 BTC. This remarkable figure has been possible thanks to strategic associations with important mining pools as Antpool, Braiuns and Foundry. These alliances not only allowed these yields, but also assured that mining would be carried out sustainably, using clean and carbon -free energy.
Bitcoin cryptocurrencies
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Thanks to the profits obtained from Bitcoin mining, the Bután government managed to increase the salaries of public officials up to 50%, strengthen their currency reserves and create new jobs related to technology. In addition, it managed to stand out as a sustainable mining model, using clean energy for its operations.
In addition, the country is expanding its mining capacity. It is expected that in 2025 Bután reach the 600 megawatts of mining capacity, with prominent projects such as a 100 megawatt mine in Gedu, In collaboration with Bitdeer, and the Jigmeling Industrial Park, which will have a capacity of 500 megawatts, in operation in the middle of this year.
Source: Ambito
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