Topic: Bhutan Kingdom is looking for Mining partners to expand their project (Read 197 times)
August 10, 2023, 01:07:00 AM
Exciting times ahead for the Bhutanese Bitcoin adventure. Big win for crypto adoption. I wonder what other positive or negative implications there are now that Bitdeer has entered the scene. A lot of mining activities and partnerships going on in Bhutan. Excited for the country's future and crypto in general.
August 09, 2023, 05:52:33 AM
Bhutan has revealed to the world, why they leaked the secret they've been withholding from the world and their citizen. Bhutan has been mining bitcoin since the price was at 5k with their extensive hydroelectricity a kind of renewable energy that is gotten from flowing water. The country mined bitcoin secretly and made money, when asked why they leaked the secret, they mentioned that their goal is to increase the country's economy by attracting more hands or partners to their crypto mine project that'll help in improving the hydroelectricity form of mining bitcoin.
Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
https://www.euronews.com/next/2023/05/05/bhutan-has-secretly-mined-bitcoin-in-the-himalayas-for-years-and-it-did-so-sustainably
Quote
The country’s investment arm, state-owned holding company Druk Holding & Investments (DHI), and Nasdaq-listed mining company Bitdeer are reportedly seeking investors for $500 million (€454.9 million) to be used to develop green crypto mining in the kingdom.
Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
https://www.euronews.com/next/2023/05/05/bhutan-has-secretly-mined-bitcoin-in-the-himalayas-for-years-and-it-did-so-sustainably
On this news comes in a development from Bitdeer in taking its earnest project of building a bitcoin mining facility to Bhutan which was made a complete success, this is coming after it had been announced for more interested mining industries to come to Bhutan and inveet their establishments in mining bitcoin because of the available resources needed to enable adequate accommodation of all interested mining corperations to establish in Bhutan, Bitdeer have successfully engaged about 15,000 miners in their recent days activities across the mining process. https://twitter.com/BitcoinMagazine/status/1688956476281290752?t=P8rcsVrs6YD6Gwp-ePVSJw&s=19
May 14, 2023, 01:02:38 AM
Smart leaders indeed, my country is fond of spending billions on worthless projects that they will abandoned later on, the major focus of mining is electricity, if one way or the other you found a very good solution then you are going to make a whole lots of money, all you need is buy the right equipment and also have patience by storing all the Bitcoin you have, a poor country with smart leaders will never stay poor for too long.
This will surely have a good effect on their economy, I don't see how such a country will flood into chaos unless the money they made is mismanaged, if this do goes as planned many poor countries will learn.
This will surely have a good effect on their economy, I don't see how such a country will flood into chaos unless the money they made is mismanaged, if this do goes as planned many poor countries will learn.
Not only is electricity needed but a lot of electricity is needed when anyone plans to mine Bitcoin. Probably in the area of Bhutan which is surrounded by high mountains for sure their electricity consumption is very low due to the place was also too cold as well and this is a big advantage to them. And it's no wonder that they have accumulated a lot of bitcoin for sure. I'm curious as to how much their electricity consumption is per kwh.
May 12, 2023, 06:35:44 PM
If the Bhutan country was indeed mining Bitcoin when the price was at $5K according to my research which is approximately around 2016. I believe they learned everything they are doing from China before the Chinese ban Bitcoin mining and this shows that some of the Chinese miners also evacuate to the country since China is a neighboring country.
Gosh, the Chinese Bitcoin ban opens doors for a lot of countries.
Gosh, the Chinese Bitcoin ban opens doors for a lot of countries.
May 12, 2023, 09:50:46 AM
Smart leaders indeed, my country is fond of spending billions on worthless projects that they will abandoned later on, the major focus of mining is electricity, if one way or the other you found a very good solution then you are going to make a whole lots of money, all you need is buy the right equipment and also have patience by storing all the Bitcoin you have, a poor country with smart leaders will never stay poor for too long.
This will surely have a good effect on their economy, I don't see how such a country will flood into chaos unless the money they made is mismanaged, if this do goes as planned many poor countries will learn.
This will surely have a good effect on their economy, I don't see how such a country will flood into chaos unless the money they made is mismanaged, if this do goes as planned many poor countries will learn.
May 10, 2023, 10:37:06 AM
It's said that they are already mining using hydroelectricity but they are still looking for partners. It could be that building another hydroelectric power plant solely for mining is what they will propose.
If it helps for their economic independence, why not. It's strategic for the country to go into BTC mining after all they can provide green energy. Anything that can give an opportunity to make use of their waters will be good.
May 10, 2023, 10:00:22 AM
Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
I'm not sure how this would affect miners in general though. Aren't this mining operation owned by the state/government-related company and not individual miners? They are looking at investors, and not miners to join them if I'm reading it correctly. I don't think anything changes that much if you own a private mining business. That being said, I wouldn't be surprised if the government welcomes miners from other countries with open arms if anyone wanted to move there as long as it is profitable.If the individual, as you said, runs a bitcoin mining business does it mean his investment won't count?. I read it as a means to welcome miners into the country because those who are into bitcoin mining would see it a good privilege to mine using a sufficient green energy.
I don't think anything changes that much if you own a private mining business.
The country is generating money through bitcoin mining and it's adding to their economy, regarding that they're quite a small nation, but bitcoin mining has contributed to the growth of her economy. For them to seek investors that means they're keen to increase the economy with bitcoin mining. So, having a bitcoin mining business expanded shouldn't be seen as an impertinent move. It'll yield them profits, they must have thought about it before revealing to the world their bitcoin mining interest and knowledge. May 10, 2023, 09:37:11 AM
Well they should probably team up with a mining hardware manufacturer as this would be the ideal partnership. The Bhutan state can provide security, a place to mine and cheap electricity. The manufacturer can give discounted hardware that is anyways hard to sell in the past month.
Seems to me like a pretty high investment sum still, if you consider what a gaint mining operation you could set up for that kind of money in a country that cheap. Also I wonder, why there is not a lot of bitcoin adoption if the government supports bitcoin so much that they are probably one of the largest miners in the world.
Seems to me like a pretty high investment sum still, if you consider what a gaint mining operation you could set up for that kind of money in a country that cheap. Also I wonder, why there is not a lot of bitcoin adoption if the government supports bitcoin so much that they are probably one of the largest miners in the world.
May 10, 2023, 07:52:52 AM
Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
I'm not sure how this would affect miners in general though. Aren't this mining operation owned by the state/government-related company and not individual miners? They are looking at investors, and not miners to join them if I'm reading it correctly. I don't think anything changes that much if you own a private mining business. That being said, I wouldn't be surprised if the government welcomes miners from other countries with open arms if anyone wanted to move there as long as it is profitable. 
May 10, 2023, 04:23:15 AM
Bhutan has revealed to the world, why they leaked the secret they've been withholding from the world and their citizen. Bhutan has been mining bitcoin since the price was at 5k with their extensive hydroelectricity a kind of renewable energy that is gotten from flowing water. The country mined bitcoin secretly and made money, when asked why they leaked the secret, they mentioned that their goal is to increase the country's economy by attracting more hands or partners to their crypto mine project that'll help in improving the hydroelectricity form of mining bitcoin.
I always thought that they might be doing something to stabilizes their economy but I never thought that they may be doing Bitcoin mining in their country. Well, other than being a Carbon negative country they have put their energy resources in best use by utilizing it for mining of Bitcoin.
The best thing they have done for investors is so far by revealing the secret of their mining operations. I think that place is highly suitable for running huge mining farms and the investors who invest in their mining operations will earn good revenue form the investment. And, the miners who want a cold enough place to run their farms should definitely invest in that country.
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Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
I agree with you, the partnership will be beneficial for both parties. The country will be able to add more mining power in their operations and the investors will earn a lot revenue with their investments. Such partnerships are rare because very few countries need investment in mining operations and most countries can't even fulfill energy needs of their citizens.
May 09, 2023, 06:45:08 PM
Bhutan has revealed to the world, why they leaked the secret they've been withholding from the world and their citizen. Bhutan has been mining bitcoin since the price was at 5k with their extensive hydroelectricity a kind of renewable energy that is gotten from flowing water. The country mined bitcoin secretly and made money, when asked why they leaked the secret, they mentioned that their goal is to increase the country's economy by attracting more hands or partners to their crypto mine project that'll help in improving the hydroelectricity form of mining bitcoin.
Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
https://www.euronews.com/next/2023/05/05/bhutan-has-secretly-mined-bitcoin-in-the-himalayas-for-years-and-it-did-so-sustainably
Quote
The country’s investment arm, state-owned holding company Druk Holding & Investments (DHI), and Nasdaq-listed mining company Bitdeer are reportedly seeking investors for $500 million (€454.9 million) to be used to develop green crypto mining in the kingdom.
Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
https://www.euronews.com/next/2023/05/05/bhutan-has-secretly-mined-bitcoin-in-the-himalayas-for-years-and-it-did-so-sustainably
If I'm not mistaken, the Himalayas are in the country of Nepal, that place is cold, and besides that, electricity consumption is probably cheap there. So there is no doubt that it is becoming profitable for the Bhutanese.
I hope they find someone who will be their partner in that regard because that is good news once again. Imagine that the Bhutanese started mining when the value of Bitcoin was only around 5000$, that's how much it really helped them until now. And the their whoever their future partner will be for sure they will never regret.
May 09, 2023, 08:37:51 AM
Bhutan has revealed to the world, why they leaked the secret they've been withholding from the world and their citizen. Bhutan has been mining bitcoin since the price was at 5k with their extensive hydroelectricity a kind of renewable energy that is gotten from flowing water. The country mined bitcoin secretly and made money, when asked why they leaked the secret, they mentioned that their goal is to increase the country's economy by attracting more hands or partners to their crypto mine project that'll help in improving the hydroelectricity form of mining bitcoin.
Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
https://www.euronews.com/next/2023/05/05/bhutan-has-secretly-mined-bitcoin-in-the-himalayas-for-years-and-it-did-so-sustainably
Quote
The country’s investment arm, state-owned holding company Druk Holding & Investments (DHI), and Nasdaq-listed mining company Bitdeer are reportedly seeking investors for $500 million (€454.9 million) to be used to develop green crypto mining in the kingdom.
Bitcoin miners would find it a good partnership considering the nature of the country; monasteries, mountains, fortress, and its green energy.
https://www.euronews.com/next/2023/05/05/bhutan-has-secretly-mined-bitcoin-in-the-himalayas-for-years-and-it-did-so-sustainably
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