So Bhutan just dropped a bombshell. They've been mining Bitcoin since the price was around 5k thanks to their crazy hydroelectric power. They've kept it under wraps, but now they want partners to boost their mining project and really up the game with their renewable energy.
Bhutan Opening Up Bitcoin Mining to Partnerships
11 replies 398 views
atlas_orbitMember
Posts: 33 · Reputation: 118
#2Oct 24, 2020, 12:05 PM
Himalayas are in Nepal, but yeah, Bhutan's cold too. Pretty sure electricity is cheap there. No wonder they’re making bank. They started mining back when BTC was just $5000, that's impressive.
Honestly, I had no clue they were into Bitcoin mining. Pretty savvy for a carbon-negative nation to use their resources. It's a solid move for local and foreign investors to jump in on that.
CalmFalconMember
Posts: 92 · Reputation: 176
#4Oct 24, 2020, 05:55 PM
Wait… so is this a state-run thing or what? I thought they wanted big investors, not just individual miners. If you’re running your own small biz, does this even affect you?
AtomicLedgerFull Member
Posts: 24 · Reputation: 474
#5Oct 24, 2020, 11:32 PM
They should totally partner with hardware manufacturers. The hydro power is sorted, and they can offer a secure mining environment. Manufacturers could offload their gear cheap too. It’s a win-win.
But what if you’re just a solo miner? Does that mean you’re left hanging? Sounds like they're trying to invite miners in to benefit from green energy.
maxi_yieldNewbie
Posts: 10 · Reputation: 5
#7Oct 25, 2020, 06:07 AM
They might be expanding their hydroelectric capacity just for mining. If it boosts their economy, why not? Using existing water sources is a smart play.
Ugh, my government wastes money on dumb stuff. Bhutan is doing it right. If you have a solid energy strategy, you'll rake in cash. Patience in HODLing BTC is key for wealth.
SwiftOmegaNewbie
Posts: 24 · Reputation: 10
#9Oct 27, 2020, 09:33 PM
If they were mining when Bitcoin hit 5k, that's about 2016, right? Gotta say, their approach seems learned from China’s past pre-ban. Looks like some miners fled there after.
Yeah, but mining needs a ton of power. With those mountains, their energy costs must be low, right? The cold climate is definitely a big plus for mining efficiency.
And now Bitdeer is setting up a mining facility in Bhutan. Sounds like they’re really going for it with partnerships and resources. 15k miners onboard already, that’s huge.
This is just the beginning for Bhutan in the crypto scene. Really curious what other effects Bitdeer will have on local mining dynamics. The future looks bright for them.