Bhutan's Bitcoin Holdings Surpass 38% of Nation's GDP

Bhutan's Bitcoin Bounty: A Nation's Digital Gold Rush

The Kingdom of Bhutan, a nation renowned for its commitment to Gross National Happiness and pristine Himalayan landscapes, has quietly emerged as a significant player in the cryptocurrency arena. Once ranking among the top three countries with the largest Bitcoin reserves, Bhutan now holds the fifth position, a testament to its strategic and sustained mining operations. This digital gold rush has seen the country accumulate a staggering 13,029 BTC, a digital hoard currently valued at approximately $1.3 billion. Astonishingly, this sum represents nearly 38% of Bhutan's total Gross Domestic Product (GDP), which stands at a modest $3.42 billion, highlighting the immense economic impact of its crypto endeavors.

Harnessing Hydroelectric Power for Digital Riches

Since 2020, Bhutan has been meticulously cultivating its Bitcoin wealth, ingeniously leveraging its abundant hydroelectric power resources. This sustainable and remarkably profitable venture is powered by the country's extensive network of rivers, which generate surplus energy ideal for the power-intensive process of cryptocurrency mining. By 2022, four state-operated mining facilities were operational, and more recent satellite imagery reveals at least six such sites scattered across the kingdom. The driving force behind this initiative is Druk Holding & Investments (DHI), the government's commercial investment arm, operating through its specialized division, Green Digital.

Strategic Bitcoin Management and Sales

Bhutan's Bitcoin reserves are securely stored in a wallet managed by DHI. The government has demonstrated a pragmatic approach to its digital assets, making strategic sales to bolster national finances. In a notable move disclosed in April 2025 by then-Prime Minister Tshering Tobgay in an interview with Al Jazeera, Bhutan sold $100 million worth of Bitcoin in 2023. These funds were instrumental in doubling the salaries of civil servants, a significant boost to the public sector. Further underscoring its active engagement with the crypto market, Bhutan sold an additional $59.42 million in Bitcoin through Binance in July 2025. More recently, on August 6th, a substantial transaction saw $60 million worth of Bitcoin transferred to a hot wallet on the Cobo exchange, signaling ongoing active management of its digital holdings.

A Global Perspective on Digital Asset Value

The story of Bhutan's Bitcoin accumulation also provides a fascinating global context. For comparison, consider the case of Bulgaria in 2018, which sold 213,500 confiscated Bitcoins for $3.5 billion. Had Bulgaria held onto that same quantity of cryptocurrency today, its value would have soared to approximately $25 billion, a sum that significantly dwarfs the country's current national debt. This historical parallel underscores the volatile yet potentially immense long-term value of Bitcoin and highlights how strategic digital asset management can profoundly impact national economies.