The tiny Himalayan nation of Bhutan has never been a stranger to Bitcoin. Still, the latest bombshell report from Forbes shed light on the scope of the Kingdom’s secretive mining operation.
The Kingdom itself upended an investigation into Bhutan’s alleged mining scheme when it confirmed to a local newspaper that it was engaged in mining digital assets. The CEO of Druk Holding & Investments (DHI), Bhutan’s state-owned holding company, said that the company entered the mining space “a few years ago” when the price of BTC was around $5,000.
This aligns with information leaked by sources familiar with the matter, who told Forbes that the country has been developing sovereign mining operations since at least 2020.
However, Bhutan’s involvement in the crypto industry doesn’t stop there.
Behind Bhutan’s growing mining operation
First suspicions about the country’s involvement with mining began in 2021 when the Department of Revenue and Customs reported importing $51 mill
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