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Bhutan Takes Bold Step into Digital Currency Regulation

Thimphu, Bhutan - The tiny Himalayan kingdom of Bhutan, known for its unique Gross National Happiness development indicator, has taken a bold step towards building a 21st-century economy by venturing into digital currency regulation.

Transforming into a Bitcoin Mining Hub

As part of this ambitious plan, Bhutan is set to transform itself into a Bitcoin mining hub, thanks to its abundant hydroelectric power resources. The country has partnered with Singapore-based Nasdaq-listed Bitdeer Technologies Group to develop a massive 600-megawatt mining farm for Bitcoin, the world’s leading cryptocurrency.

$500 Million Fundraising Drive Underway

The project aims to raise $500 million from international investors through a closed-end fund, which was reportedly launched in May as planned. A high-ranking source close to the project confirmed that the fundraising drive has indeed commenced, marking a significant milestone in Bhutan’s journey towards embracing digital currency regulation and establishing itself as a key player in the global cryptocurrency landscape.

Key Highlights

• Bhutan partners with Bitdeer Technologies Group to develop a massive 600-megawatt mining farm for Bitcoin
• Project aims to raise $500 million from international investors through a closed-end fund
• Fundraising drive has commenced, marking a significant milestone in Bhutan’s digital currency regulation journey