Бутан продолжает реализацию биткоинов, накопленных через майнинг Translation: Bhutan Continues Bitcoin Sales Accumulated Through Mining

The Bhutanese authorities have been selling bitcoins from their reserves for the third consecutive week. Analysts from Arkham noted that the latest sale of 100 BTC generated approximately $6.8 million.

Experts from the platform pointed out that since September, the kingdom has liquidated its first cryptocurrency worth no less than $100 million. Approximately 5,600 BTC, valued at around $372 million, is still held in identified Arkham wallets.

According to analysts, mining has been the primary source of bitcoin accumulation for Bhutan. At its peak, the country’s reserves exceeded 13,000 BTC.

The output of this digital asset surged at the beginning of 2023 but saw a significant decline following the fourth halving of the leading cryptocurrency. The reduction of the block reward from 6.25 BTC to 3.125 BTC occurred in April 2024.

It was anticipated that the power used for mining operations by the government, in collaboration with Bitdeer, would reach 600 MW. Jihan Wu’s company inaugurated the Gedu data center in August 2023. However, the goal of achieving a hashrate of 20 EH/s at the site has been significantly delayed, as highlighted by Arkham.

In the latter half of 2024, industry experts noted that miners faced the most severe profit crisis in history.

At the start of 2025, amid declining prices for the leading cryptocurrency, many popular mining rigs approached the break-even point.

The dropping price of bitcoin, coupled with rising energy tariffs, has led to widespread shutdowns of equipment by companies due to record losses, resulting in a decrease in hashrate. Another detrimental factor was the impact of the winter storm in the U.S.

It’s worth noting that on February 7, the difficulty of bitcoin mining decreased by 11%. This represented the most significant drop in this metric since the cryptocurrency mining ban in China in 2021.