Druk Holding and Investments (DHI), the investment arm of Bhutan has been mining BTC (Bitcoin) for several years as part of a long-term investment strategy to diversify the nation’s portfolio. According to CEO of DHI, Ujjwal Deep Dahalthe country not only uses digital assets to finance its operations, but also keeps some of them for the future, anticipating an increase in value after the Bitcoin halving in 2024.
Sustainable Yields with Hydroelectric Power
THE Bhutan take advantage of his vast hydropower network to mine bitcoin (BTC), aiming for positive and sustainable returns in various asset classes, including cryptocurrencies. The nation’s high mountainous region and its many hydroelectric projects offer slightly lower production costs. Dahal explained that this approach allowed DHI to use the energy savings to purchase additional mining equipment.
Economic diversification and repayment of Bitcoin loans
Besides being part of the Bhutan long-term investment strategy, bitcoin mining contributes to efforts to diversify the nation’s economy. At thread For years, the government has sought to address the challenges of self-sufficiency by exploring sectors such as tourism and agriculture.
Our portfolio contains investments in various categories ofassets which provide exposure to traditional sectors and industries that drive the modern economy. These include in particularactions global, fixed income and venture capital investments in promising startups; national and international real estate; renewable energy, including hydropower generation; health technologies, biotechnologies, life sciences and agritech; and digital asset mining and investing.
DHI would have started to mine BTC when its price was around $5,000, although no specific date was provided. THE BTC (Bitcoin) was last traded at these levels when various markets crashed due to the global Covid-19 pandemic in March 2020 and briefly in April 2019.
Dahal also revealed that the Bhutan managed to repay its debt to the lenders by crypto bankrupt currency BlockFi and Celsius. The kingdom had previously taken out loans in digital assets to finance other investments. Last month, it was disclosed that DHI made multi-million dollar deposits and withdrawals from lenders in different cryptocurrencies including Bitcoin, Ethereum and USDC.
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