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Discussions around Bhutan’s efforts to develop sovereign mining operations have been occurring since 2020, though until this week its government had never disclosed its plans. Bhutan sought to harness the country’s hydroelectric plants to power racks of mining machines that solve complex mathematical problems in order to earn bitcoin rewards. Once completed, this would make Bhutan one of the only countries to run a state-owned mine, alongside El Salvador.
A partnership with the kingdom would increase Bitdeer’s mining capacity, which is second only to bankrupt Texas-based Core Scientific in scale, by about 12%, adding to its data centers in Washington, Texas and Norway. “We expect to generate 100 MW out of the 550 MW power supply from Bhutan, where the construction of mining datacenter is expected to begin in the second quarter of 2023 and complete in the third quarter of 2024,” Bitdeer said in a investor update on 19 April. The announcement didn’t specify who would ultimately own it.
https://www.forbes.com/sites/iainmartin/2023/04/30/bhutan-bitcoin-mining-crypto/?sh=136a48e91f1b
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