Among today’s bitcoin mining news, the revelation by Arkham cannot be missed, regarding the Kingdom of Bhutan which apparently holds as much as 780 million dollars in BTC. Unlike other governments, this sum of BTC is entirely derived from the country’s mining operations, powered by its renewable energy resources.
Bitcoin mining news and the revelation about Bhutan and its over 780 million dollars in BTC
Arkham, a blockchain data identification company, highlighted the addresses attributed to the Kingdom of Bhutan, revealing that the country owns over 780 million dollars in BTC thanks to mining activity.
BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAM
Bhutan’s Bitcoin holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by the Kingdom of Bhutan’s investment arm, Druk Holdings.
Arkham is the first to publicly identify these… pic.twitter.com/a8ScUNJJ9F
— Arkham (@ArkhamIntel) September 16, 2024
“750 MILLION DOLLARS OF BTC FROM THE GOVERNMENT OF BHUTAN NOW ON ARKHAM. The Bitcoin holdings of Bhutan are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by the investment arm of the Kingdom of Bhutan, Druk Holdings. Arkham is the first to publicly identify these addresses”
Specifically, Arkham revealed that Bhutan currently holds 13,011 BTC, equivalent to 780.49 million dollars at the time of writing.
In practice, the analysis company revealed that, unlike other governments, the BTC of Bhutan do not come from asset seizures by law enforcement, but from Bitcoin mining operations.
The South Asian country, Bhutan, a Buddhist kingdom on the eastern edge of the Himalayas, has built Bitcoin mining facilities in various locations, the largest of which is located on the site of the now-defunct Education City project.
On the Arkham platform, the Kingdom of Bhutan is now in fourth place as the government with the largest Bitcoin holdings.
Bitcoin mining news: a condurre le operazioni nel Bhutan ci pensa la Druk Holdings
Continuing with its revelations, Arkham also specified that leading the Bitcoin mining operations on behalf of the Kingdom of Bhutan is Druk Holdings (DHI).
It is the investment arm of the Kingdom that, in May 2023, had formed a partnership with Bitdeer precisely to develop a 100% carbon-free BTC mining operation in Bhutan.
In fact, Arkham highlights that Bitcoin mining operations in Bhutan have increased drastically, precisely since the beginning of 2023.
In any case, to make a comparison with other governments, the current figure of 13,011 BTC in the hands of Bhutan turns out to be almost triple the holdings in BTC in the hands of El Salvador. In fact, it seems that the wallet of the Central American country holds only 5,875 BTC, the equivalent of 331 million dollars, which is 45% of Bhutan’s holdings.
Not only that, Arkham’s data also reveals that Druk Holdings also holds 656 ETH (the equivalent of 1.5 million dollars) and other quantities of BNB and MATIC.
From governments to the solitary miner who managed to earn almost $200,000
Recently, there has been talk about the case of the solitary miner who managed to earn the equivalent of $199,098 by mining block 858,987 of the Blockchain alone.
In practice, this news caused a sensation because it is a fact that highlights the success of decentralization, a fundamental pillar on which Bitcoin is based. And in fact, to date, with an increasingly competitive landscape, the large pools dominate the bitcoin mining scene.
Yet, even if in rare cases, decentralization strikes (and has struck) again. Specifically, the solo miner managed to mine the block and obtain his reward of 3.275 BTC.
