TechFlow News, April 11: According to a CoinDesk report, following the sale of 70% of its Bitcoin holdings, the Kingdom of Bhutan may have halted or slowed down its Bitcoin mining operations—a stark contrast to other major institutions and sovereign nations that are increasing their allocations to cryptocurrencies and gold (El Salvador currently holds over 7,618 BTC). Reportedly, due to economic pressures, Bhutan’s hydropower generation is now being directed more toward electricity exports to neighboring India rather than Bitcoin mining. Additionally, falling Bitcoin prices, rising network difficulty, and halving-related pressures are collectively squeezing mining profitability.
To date, Druk Holding and Investments—the sovereign wealth fund managing Bhutan’s Bitcoin assets—has not issued any public statement regarding the fund transfer or the status of its mining operations.
