Bhutan is capitalizing on the cryptocurrency market once again. Over the past four days, the small Himalayan nation has sold more than 512.84 BTC, valued at $59.47 million, as Bitcoin surged above the $123,000 mark, according to the blockchain monitoring tool Lookonchain.

Key Highlights:

• Bhutan has offloaded these Bitcoin assets quickly, but still possesses 11,411 BTC, worth over $1.4 billion from its national mining operations.
• The country’s operational tactics leverage its abundant hydropower resources for Bitcoin mining through Druk Holding & Investments, its sovereign wealth fund.

Bhutan image

Despite recent liquidations, Bhutan has maintained its vast Bitcoin reserves, a strategy that contrasts sharply with countries like Germany that have sold large quantities of seized Bitcoin during market highs. Bhutan’s BTC holdings, however, derive solely from its state-sponsored mining campaigns, making this selling strategy one of profit maximization during price peaks.

Bhutan’s government remains committed to eco-friendly mining practices while pursuing infrastructure developments aimed at a cryptocurrency-forward economy, such as the Gelephu Mindfulness City, initiated in collaboration with firms like Bitdeer.