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Has Bhutan Been Quietly Mining Bitcoin Since 2017?


According to reports, the landlocked Kingdom of Bhutan, which is located in the Eastern Himalayas, has been running a bitcoin mining operation for years using renewable energy sources. According to a government official, the procedure began when BTC was worth about $5,000. It’s important to remember that the main cryptocurrency first reached that level in October 2017.

El Salvador is another nation that has carried out this. The country in Latin America that was the first to declare bitcoin legal cash within its borders has begun mining BTC using electricity derived from volcanoes.

A government source from Bhutan acknowledged to the local daily The Bhutanese on Saturday that the country had started mining “a few years ago as one of the early entrants when the price of Bitcoin was around USD 5,000.” This came after Forbes had contacted Bhutanese officials with inquiries regarding the mining plan. It was explained that the money was used to help pay for hardware and power bills.

In regards to a series of questions from Forbes about the size of the business, the Bhutanese Ministry of Finance stayed quiet. When, where, and whether the mining operation has made a profit are all unknown. As for the beginning, bitcoin was worth $5,000 in April 2019. Also unknown is why neither Bhutan’s citizens or its international partners were ever informed of the project.

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