Bhutan Government Moves $835K in Bitcoin to New Wallets, On-Chain Data Shows

BitcoinWorld Bhutan Government Moves $835K in Bitcoin to New Wallets, On-Chain Data Shows Bhutan’s royal government has transferred 10.779 Bitcoin (BTC), valued at approximately $835,000, to two newly created wallet addresses, according to blockchain tracking platform Onchain Lens.

The transaction was detected on-chain, but the specific purpose or destination of the funds has not been publicly disclosed. Context: Bhutan’s Growing Crypto Holdings The transfer comes amid growing international attention on Bhutan’s cryptocurrency activities.

Unlike many nations that acquire Bitcoin through seizures or purchases, Bhutan’s BTC holdings are largely the result of state-sponsored mining operations, primarily powered by the country’s abundant hydroelectric energy.

The Royal Government of Bhutan, through its investment arm Druk Holding and Investments (DHI), has been involved in Bitcoin mining since at least 2021, with mining facilities often co-located with major hydropower projects.