Silent Bitcoin Mining: Bhutan's Secret Fortune at $5k BTC
Druk Holding and Investment (DHI) is Bhutan’s largest company engaged in Silent Bitcoin Mining. It is the only company that the government has run. It confirmed that it has mined for Bitcoin (BTC) as a part of its portfolio for many years.
Key Takeaways:
- Bhutan’s largest company, Druk Holding and Investment (DHI), has been secretly mining Bitcoin for years as part of its portfolio.
- The company’s interest in Bitcoin mining began when the value of Bitcoin was around $5,000.
- DHI has clarified that its investment in Bitcoin is a strategic move rather than a fear of missing out on technology.
- The mining operation in Bhutan is powered by renewable energy sources generated through hydro projects.
- DHI did not suffer any financial loss in Bhutan compared to the cost of mining, and the cryptocurrency mining venture is part of the country’s efforts to increase economic growth.
John Morgan took to Twitter and made an announcement that Bhutan has been mining Bitcoin silently for many years when the price of Bitcoin was $ 5000.
According to the statement made by the company, the interest of the company in Bitcoin mining started when the value of the maiden cryptocurrency was around $5,000. The company has little interest in Ethereum (ETH), The Bhutanese, the local media outlet reported on April 28.
There is an assurance from the DHI official regarding the mitigation of the risks associated with cryptocurrencies. It considers that there is no direct involvement of the company in buying and selling digital assets.
The DHI notices that selling Bitcoin to cater to the investors pays for the cost of mining operations.
TAngent took to Twitter and made an announcement for its stunning landscape concept across Western happiness and rich culture. It uses these values for the measurement of the well-being of the citizen.
Moreover, the company has clarified the investment program of Bitcoin. It clarified that investment in Bitcoin is a strategic move rather than a (FOMO) fear of missing out on technology.
The team of experts assembled by the DHI in cryptocurrencies as part of the strategy. It is harnessing the benefits of regulation of cryptocurrency exchanges worldwide.
However, it emerged that a landlocked Himalayan country has secretly invested millions of people in Bitcoin alongside other digital assets.
It is according to the report of Finbold. After the bankruptcies of crypto lenders BlockFi and Celsius, the investment revelations came to light.
However, the mining operation under the control of Bhutan’s renewable energy source has been generated through hydro projects. It is obvious that renewable resources generate 100% of the country’s electricity. These produce large amounts of electricity.
Crypto411 took to Twitter and made an announcement that Druk Holding and Investments (DHI) company of Bhutan has confirmed the mining of Bitcoin for several years.
The cryptocurrency mining venture is part of Bhutan’s efforts. To increase economic growth. Their technology is an important component.
Additionally, DHI CEO Ujjwal Deep Dahal explained that to pay all the loans the company had managed. Loan borrowed from bankrupted crypto firms BlockFi and Celsius. He also clarified that compared to the cost of mining, DHI didn’t suffer any financial loss in Bhutan.